India (Commonwealth Union)_ The Adani Group has designated an initial investment of $750 million to establish a 500 MW wind farm in Sri Lanka, aiming to export power to India while also supplying the energy within the island nation. Adani Green Energy (AGEL) will spearhead the development of this farm, while another sector of the conglomerate, Adani Ports and SEZ (APSEZ), is actively considering the construction of crucial port infrastructure in nearby nations.
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Karan Adani, the whole-time director and CEO of APSEZ, revealed, “We have submitted a proposal to the government for renewable energy, as the northern region of Sri Lanka possesses abundant wind resources. Our plan involves the establishment of a 500 megawatts wind farm as the initial phase. The broader strategy encompasses exporting renewable energy from Sri Lanka to India through a cross-country transmission line linked to the Indian grid.”
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Drawing parallels with their existing agreement with Bangladesh, where AGEL supplies power from India, in this instance, the generated power would be directed towards India. However, the total power to be generated upon the project’s completion and the overall investment required are yet to be decided. Adani emphasized the importance of comprehensive feasibility studies and stated that this project will focus exclusively on wind energy. He also noted the expectation of signing power purchase agreements post-approvals. The project’s execution could potentially be completed within a maximum period of 24 months following the approval date, offering Sri Lanka an affordable source of electricity.
Previously, AGEL, which enjoys 19.7% ownership by French energy giant TotalEnergies, had established a goal of achieving 45 GW of renewable energy capacity by 2030. This endeavor aligns with their objective of reducing emissions and assisting India in meeting its carbon neutrality targets. AGEL currently operates 8.3 GW of renewable energy capacity, with an additional 12.118 GW under execution.
In parallel, APSEZ is exploring the development of pivotal port infrastructure in nearby nations, seeking to integrate supply chains, with India acting as the central hub. These endeavors include plans for Bangladesh, East Africa, the Middle East, South East Asia, Vietnam, and other global regions. Adani emphasized, “While we focus on our global outreach, our growth is rooted in India, a growing market that we intend to continue expanding within.”
