$442 mn Adani Green wind projects approved by SL Investment Board

27 Feb 2023 CW Team

In accordance with a statement made public by the board, Sri Lanka's Board of Investment approved two wind power projects totaling $442 million from India's Adani Green Energy Ltd. The two 350 MW wind power projects are anticipated to be operational in two years and will be incorporated into the national grid by 2025, according to an announcement. Since a U.S. short seller last month accused the apples-to-airports conglomerate of improperly using tax havens and stock manipulation, the market value of the seven listed firms that make up the troubled Adani Group has dropped by roughly $125 billion.

As a result of the country's failure to create adequate thermal and coal electricity, rolling power outages have afflicted Sri Lankans for more than a year, forcing the government to speed up renewable energy projects. The island nation this week increased power prices by a hefty 66% in an effort to secure a $2.9 billion bailout from the International Monetary Fund (IMF) as it struggles to recover from its worst financial crisis in more than seven decades.

The business is also constructing a $700 million terminal renovation at Sri Lanka's busiest port. The Sri Lankan Board of Investment has announced that the Adani wind power project will generate between 1,500 and 2,000 new employment. Moreover, Sri Lanka plans to supply southern India with clean energy from its northern regions.

Resources

26 Jun 2026

G R Infraprojects Founder Vinod Agarwal Passes Away

Vinod Kumar Agarwal, Founder and Promoter of G R Infraprojects, has passed away. He had been associated with the company since its inception in 1995. His vision, determination and entrepreneurial acumen laid the foundation for the company and helped shape its growth into a leading name in India’s infrastructure sector.Agarwal served as Managing Director from 2008 to 2021 and later as Chairman and Whole-time Director from 2021 to 2025. He stepped down from the office of Director on 10 November 2025. During his leadership tenure, the company moved through significant phases of growth, operatio..

Centre Prioritising Energy Security With Coal Gasification

Union minister for Coal and Mines G Kishan Reddy said the Centre is prioritising energy security through a strategic shift to coal gasification and has announced incentives totalling Rs 460 billion (bn) to support the effort. He said more than 35 companies will start coal gasification activities in India within two months and that the government is encouraging firms that bring technology to close the domestic technology gap. The minister described the initiative as aimed at reducing import dependence and developing indigenous capacity. India has the fifth-largest coal reserve in the world, and..

BHEL and Coal India Invest Rs 250 bn in Odisha Gasification

Bharat Heavy Electricals (BHEL) and Coal India (CIL) are jointly investing Rs 250 billion in a coal gasification project in Odisha, with the Prime Minister laying the foundation stone in Jharsuguda. Union Coal and Mines Minister G Kishan Reddy described the initiative as a transformative shift in coal utilisation that will open industrial avenues for the state. The project moves coal beyond conventional power generation to industrial feedstocks. Coal gasification will convert coal into synthesis gas, a versatile feedstock for chemicals, fertilisers and synthetic fuels, and the technology is ex..