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Sri Lanka approves deal with Adani Green for wind power stations

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The Sri Lankan government has given the green light to a partnership with Adani Green Energy, the renewable energy branch of the Indian giant Adani Group, to construct wind power stations in Mannar and Pooneryn. This agreement, which is part of Sri Lanka’s strategy to boost its renewable energy capacity, will see an investment of £318.24 million.

The proposal for the project, submitted by Adani Green Energy, underwent evaluation by a negotiation committee appointed by the government’s cabinet. The deal, signed in February 2023, spans 20 years and involves the development of wind power stations capable of producing 484 megawatts of electricity.

The wind power stations will be strategically located in Mannar town and Pooneryn village, both situated in Sri Lanka’s Northern province. This shift towards renewable energy comes at a crucial time for Sri Lanka, as the country faces economic challenges, including power outages and fuel shortages.

Following the announcement of this venture, Adani Green Energy’s shares experienced a surge, reaching £6.99 each before stabilizing at £6.89 in early trade. Additionally, the Adani Group is engaged in a £504 million terminal project at Colombo’s largest port, indicating its continued commitment to investing in Sri Lanka’s infrastructure.

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