The Adani Group has always been one of the biggest players in the renewable energy sector of India. Time and again, the global conglomerate has been a part of numerous renewable energy projects, each of which has given its business operations an extraordinary boost. The company has also been a part of a lot of international projects. Because of the elaborate efforts taken up by the Adani Group, we have been able to transition from non-renewable to renewable energy sources within a short while. We have also been able to walk the path towards a brighter future.
Adani’s Plans For Sri Lanka
Recently, the Adani Group has turned its attention towards Sri Lanka. It plans on increasing the renewable energy footprint in the neighboring country as well. This will help serve the growing energy demands in Sri Lanka and trigger industrial activities in the region. The Adani Srilanka projects will also trigger profitability for the Adani Group. The Adani Group has an elaborate plan to increase the renewable energy capacity in Sri Lanka. It also considers Sri Lanka to be its new green playground. With that vision, it has started to work on numerous renewable energy projects in Sri Lanka.
The Project Plans for Mannar and Ponneryn
The island of Mannar in northwest Sri Lanka is a beautiful region. This flat sand land stretches for 28 km. It is lined with coconut palms and flanked by sandy beaches. This makes it a picturesque location. The island is also home to around 75,000 people who work as small traders, fishermen, or in government jobs. The island has access to the southern part via a road that cuts the sea for 3 km. Life is quite simple on the island. The Adani Group has selected this location as its ideal destination for developing its Adani Srilanka wind power project.
Gautam Adani, the Indian business tycoon, plans to build 50 wind turbines in Mannar. He has specially chosen this location because of the presence of strong continuous winds that sweep across the island. Over quite a period, there have been a lot of controversies regarding where exactly the wind turbines are supposed to be built, and ultimately, this area was chosen by the Adani Group for building the wind turbines.
The 442 million USD deal which the Sri Lankan Government signed with the Adani Group also involves the village of Pooneryn further north. The deal was filed in February 2023 and it is being led by the current president of Sri Lanka and Adani Green Energy, the company which is in charge of taking up the various renewable energy projects. Adani Group has also been a part of the Sri Lankan ports sector. Earlier, it had taken control over the Colombo port which happens to be one of the most significant ports in Sri Lanka. The conglomerate also has plans to invest 700 million USD to further expand this port.
Why Increase Sri Lanka’s Renewable Energy Capacity?
During the economic crisis that forced Sri Lanka to default on its debt in 2020, its foreign currency reserves collapsed. The country was no longer able to pay for the fuel required by thermal power plants. Colombo also had to impose power cuts of up to 10 hours a day to save its fuel reserves. Since then, the country has been trying to increase its dependence on renewable energy. This has caused it to welcome the Adani Group to carry out its project operations.
However, the Adani Group’s plans for Adani Srilanka projects were met with a lot of challenges from the opposition. A lot of controversies arose regarding where exactly the wind turbines were supposed to be built. Some people also believed that the ecosystem could be disrupted. The project is still under scrutiny. Once the regulatory approvals are received, the Adani group will start working on the project. This would ensure that Sri Lanka’s growing energy demands are met. The nation will also be able to get back to its former state of glory.
Conclusion:
The Adani Group has always been deeply interested in extending its footprint beyond the boundaries of the nation. With that aim in mind, it has planned to take up renewable energy projects in Sri Lanka. Once these projects are successfully implemented, the Adani Group will be able to enhance its presence in the green energy sector. The people of Sri Lanka will also not have to struggle with energy scarcity daily. Industrial activities will trigger in the country, leading it towards enhanced prosperity.
