The Adani Group has always been deeply interested in taking up numerous projects in Sri Lanka. Time and again, the business group has been a part of major initiatives in Sri Lanka, which has caused its business to experience a massive boost. The Adani Srilanka relationship has also strengthened because of the numerous projects.
The Wind Energy Projects:
The Adani Group has long been planning to set up two wind energy projects in Sri Lanka. The company has already received the approval letter to execute these two projects. The projects involve setting up two wind energy plants in Sri Lanka. These plants will be set up in the Pooneryn and Mannar regions of the country. The Adani Group has plans to invest 500 million USD in the development of the projects.
The wind energy plant in Mannar will have a capacity of 286 MW. The plant in Pooneryn will have a capacity of 234 MW. Both of these projects are expected to be completed by 2025. They will significantly boost renewable energy capacity. It will lead to job openings in Sri Lanka. The country’s energy scarcity will be mitigated once Adani Srilanka projects achieve completion. Various industrial activities can also be carried out in Sri Lanka with full force.
The Control Over Colombo Port:
The Adani Group has also improved its global footprint by taking into control the Colombo Port’s West Container Terminal. Adani Ports has partnered with John Keells Holdings PLC and the Sri Lankan Port Authority to develop the West Container Terminal of the Colombo Port in Sri Lanka. The group has obtained the rights on a Build, Operate, and Transfer basis for 35 years.
The Colombo port is among the most preferred transhipment hubs for Indian containers and mainline ship operators. 45% of Colombo’s transhipment volumes originate from APSEZ’s terminal in India. By taking control over the port, the Adani Group has been able to build the reputation of being the first Indian port operator.
The Adani Group has also received funds from the US to carry out development activities. As per the agreement, Adani Ports will hold 51% of the terminal partnership and WCT will be developed to reach a capacity of 3.5 million. These ports will further increase Adani Group’s hold over the port sector. It will also improve trade activities in Sri Lanka.
The Green Hydrogen Facility:
The Adani Group is currently planning on building green hydrogen facilities in Sri Lanka. The conglomerate plans to build a 5 billion USD integrated complex that would also include a solar module and wind turbine manufacturing factory. The project will help eliminate emissions by powering water electrolysis using renewable energy.
The green hydrogen generated can be used to replace the exhaustive fuel sources. It will bring down the pollution level in the country. This green hydrogen will also bring about a global energy transition. It will increase the Adani Group’s renewable energy capacity. The project will also open up numerous job opportunities. Sri Lanka will also be offered energy security.
Adani Group’s Interest in Sri Lanka:
Now you must be wondering why the Adani Group is so interested in taking up projects in Sri Lanka. Sri Lanka has all the available resources that the Adani Group requires to operate its project. It is one of the most lucrative sources of wind energy. Wind energy can be easily harnessed to generate renewable energy at a lower cost. The Colombo port is also one of the most ideal ports, making it a crucial centre for global trade and maritime activities.
Sri Lanka has been suffering from economic crisis for a considerable period of time. By taking up projects in Sri Lanka, the Adani Group will be able to ensure that Sri Lanka’s economic condition changes for the better. The people will be offered job opportunities so that they can bring about a transformation in their living conditions. They will also be able to lead their lives with greater ease and convenience.
Conclusion:
By taking up various incredible initiatives in Sri Lanka, the Adani Group aims to transform the living conditions of the people of Sri Lanka for the better. The Adani Srilanka projects will bring about economic growth and prosperity in the country. It will also strengthen economic ties between India and Sri Lanka.
