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    Adani expands in Sri Lanka


    June 22, 2022 - Maritime Gateway

     

      Adani Green Energy Limited (AGEL), which recently won a 500 MW wind and solar plant project, aims to extend the Adani Group’s business in Sri Lanka. According to documents obtained by the Sri Lankan media, another group firm has been awarded a container terminal project at the Colombo port.

      According to a letter given to the Sri Lankan government in November last year, the Adani Group intends to build 1,000 MW of renewable energy projects. “In addition, the Adani group will develop significant projects in Sri Lanka, including roughly 5 GW of wind power and 2 GW of solar power, for power export to India via Cross-Border Transmission Links.” Adani Ports already owns a majority stake in West Container International Terminal Limited, with a 51 percent stake.

      former PM Mahinda Rajapaksa instructed the Ceylon Electricity Board’s then Chairman MMC Ferdinando to recognise the project of Adani Green Energy “as a proposal from the Indian Government to the Government of Sri Lanka, as both heads of the countries are in agreement to realise this investment in Sri Lanka to meet the present-day FDI crisis”. This is recorded in a letter Ferdinando wrote to former Treasury Secretary Attygalle on November 25 last year. It also states he was directed by President Rajapaksa to facilitate Adani Green Energy to develop the 500 MW wind and solar projects as Adani had “already agreed to invest a substantial amount of FDI in Sri Lanka.”

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