The Adani Group has signed a MoU with the Sri Lankan government to develop two large-scale renewable energy projects in the neighbouring country. Although neither the Adani Group nor the Sri Lankan government have confirmed the two projects, it has been reported that they will be situated in Mannar and Pooneryn in the Northern Province. The MoU was signed at the Finance Ministry of Sri Lanka on March 11, 2022 between the representatives of Adani Group, Ceylon Electricity Board, Sustainable Energy Authority (SEA) and the Board of Investment (BOI).
Both renewable energy projects will cost approximately $500 million and will have a combined power output capacity of 500 MW. Mannar is located on the northwestern coast of Sri Lanka. Pooneryn is a small town on the Jaffna Peninsula, immediately south of the Jaffna Peninsula. Both projects are in Sri Lanka’s north. The projects will take approximately a year to complete.
Sri Lanka has now designated three large renewable energy projects in the North and Eastern Provinces as a result of this agreement. Ceylon Electricity Board (CEB) and National Thermal Power Corporation (NTPC) have formed a joint venture to build a 50MW solar power park in Trincomalee’s Sampur area.
REGlobal’s Views: Adani is expanding its geographical reach in the infrastructure sector and India’s neighbor Sri Lanka is a logical step for the company. Apart from these renewable energy projects, it is also constructing a port terminal in Colombo.
