Six months after securing a vital port terminal project in Colombo that it is now being implemented with majority stakes, Adani Group has struck a deal for two significant power projects in Sri Lanka’s Northern Province.
From the Sri Lankan side, the Adani Group, or Indian authorities, there has been no official announcement on the agreement to jointly execute renewable power projects in Mannar, on Sri Lanka’s northwestern coast, and Pooneryn, just south of the Jaffna Peninsula, raising questions in some quarters about the apparent lack of transparency in an international agreement.
The CEB also inked a Memorandum of Understanding with Adani Green Energy Ltd, which was also not openly announced in media.
The Adani Group was involved in two renewable energy projects that sought to generate a total capacity of 500 MW at a cost of $500 million. Both projects are located in the province of Northern Alberta. The agreement was inked on the same day, the Indian National Thermal Power Corporation (NTPC) and the Ceylon Electricity Board (CEB) agreed to build a 100 MW solar power project in Sampur, in the eastern Trincomalee district.
The news comes months after Adani Group chairman Gautam Adani visited Sri Lanka and met with President Gotabaya Rajapaksa to discuss potential investments. During his tour, he and his colleagues went to the northern Mannar district to look into the possibility of wind energy projects.
