Construction Industry News
Adani Group has signed a deal for two major energy projects in Sri Lanka's Northern Province, six months after securing a strategic port terminal project in Colombo.
The agreement has not been officially announced by Sri Lanka, the Adani Group or the Indian authorities to jointly implement renewable energy projects in Mannar, on Sri Lanka's northwest coast, and Pooneryn, south of the Jaffna Peninsula. However, the Ceylon Electricity Board (CEB) also signed a Memorandum of Understanding (MoU) with Adani Green Energy Limited.
The two renewable energy projects involving the Adani Group aim to generate a combined capacity of 500 MW at $500 million. Both projects are in the Northern Province, where New Delhi objected to a Chinese energy project.
The agreement was signed on the same day by National Thermal Power Corporation (NTPC) and CEB to establish a 100 MW solar power project in Sampur, Trincomalee Eastern District.
The development comes after Gautam Adani, chairman of Adani Group, visited Sri Lanka and held talks with President Gotabaya Rajapaksa about potential investments in Sri Lanka.
The team visited the northern Mannar district to explore opportunities for wind energy projects. India's involvement in renewable energy projects in Sri Lanka, together with the government of Rajapaksa, is about cleaner energy.
Sri Lanka has a daily peak demand of over 2000 MW and is currently experiencing severe fuel and power shortages leading to long power outages across the country.
