News

BoI issues letter approving Adani’s renewable energy project

22 Feb, 2023

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The Board of Investment (BoI) of Sri Lanka has issued a letter of approval to India?s Adani Green Energy Limited, for the two wind power plants to be set up in Mannar and Pooneryn at a total investment of USD 442 Million.

Accordingly, the wind power plant in Mannar will operate at a capacity of 250 MW while the wind power plant in Pooneryn will operate at a capacity of 100 MW.

The two wind power plants of 350 MW are scheduled to be commissioned in two years and will be added to the national grid by 2025.

The BoI said the new project will generate 1500-2000 new employment opportunities.

Earlier in the day Adani Group and Sri Lankan officials discussed progress on the renewable energy project.

The discussion took place between visiting Adani Group officials and Minister Kanchana Wijesekera at the Ministry of Power and Energy.

Officials of the Ministry of Power and Energy, Ceylon Electricity Board (CEB) and Sustainable Energy Authority participated at the meeting.

Led by billionaire Gautam Adani, Adani Group?s seven listed companies bearing his name have together lost about $120bn in market value since a January 24 report by Hindenburg Research alleged improper use of offshore tax havens and stock manipulation.

The Adani group has denied the allegations and threatened legal action against Hindenburg.?(Colombo Gazette)

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