Sunday Dec 15, 2024
Sunday Dec 15, 2024
Thursday, 23 February 2023 01:33 - - {{hitsCtrl.values.hits}}
The Board of Investment (BOI) yesterday approved India’s Adani Green Energy Ltd., (AGEL) $ 442 million initiative to set up two wind power plants in Mannar and Pooneryn.
The wind power plant in Mannar will operate at a capacity of 250 MW while the wind power plant in Pooneryn will operate at a capacity of 100 MW. Following the BOI approval, AGEL will now enter into a Power Purchase Agreement with the Ceylon Electricity Board.
The two wind power plants of 350 MW are scheduled to be commissioned in two years and will be added to the national grid by 2025.
In a statement BOI said that the new project will generate 1500-2000 new employment opportunities.
In August last year Power and Energy Minister Kanchana Wijesekera confirmed that provisional approvals were issued for the two Adani Group wind projects worth nearly $ 500 million. In March last year the BOI signed the initial Memorandum of Understanding.
Via the MoU AGEL conducted at its own cost a detailed feasibility study on the proposed project complying with existing laws of Sri Lanka, and submit the feasibility study report to the other parties for review and for acceptance.
AGEL, the renewable energy arm of the diversified Adani Group has seen a 35% year on year increase in operational capacity to 7,324 MW in India as at 31 December 2022 and is on track to complete ~ 8,300 MW, the largest in India, by end of FY23. AGEL is also the largest operational hybrid power generation capacity of 1,440 MW.
