By: Vibhuti Pathak
The Adani Group, led by Indian billionaire Gautam Adani, has secured approval from the Sri Lankan government to develop wind power stations in Mannar and Pooneryn. The agreement, part of Sri Lanka’s push towards renewable energy, involves an investment of £318.24 million.
The project proposal, submitted by Adani Green Energy, was evaluated by a negotiation committee appointed by the government cabinet. The 20-year deal, signed in February 2023, aims to construct wind power plants capable of generating 484 megawatts of electricity.
The wind power stations will be located in Mannar town and Pooneryn village, both in Sri Lanka’s Northern province. The move towards renewable energy is a response to Sri Lanka’s economic difficulties, including power outages and fuel scarcity.
Following the announcement of the project, Adani Green Energy’s shares experienced a surge, reaching £6.99 each before settling at £6.89 in early trade. The Adani Group is also engaged in a £504 million terminal initiative at Colombo’s largest port, furthering its commitment to investing in Sri Lanka’s infrastructure.
