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Colombo, Feb. 24 (Xinhua) — Sri Lanka’s investment promotion agency has approved India’s Adani Group’s construction of two renewable energy projects in the northern and eastern regions of the island nation with a total investment of US$442 million.
The wind farm at Mannar will operate at a capacity of 250 MW (megawatts), while the wind farm at Pooneryn will operate at a capacity of 100 MW.
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“The Board of Investments of Sri Lanka has issued a letter of approval to India’s Adani Green Energy Limited for the construction of two wind farms at Mannar and Pooneryn with a total investment of US$442 million,” said a press release on Thursday.
The two 350-megawatt wind farms are scheduled to come online within two years and be connected to the national grid in 2025.
The new project will generate 1500-2000 new job opportunities.
Earlier this week, representatives of Adani Group met Energy Minister Kanchana Wijesekara to check the progress of the two projects.
It was the first formal meeting since U.S.-based short-seller Hindenburg Research filed a string of allegations against the Indian conglomerate, including fraudulent trading and stock price manipulation. The company has dismissed the allegations as lies, saying it complies with all legal and disclosure requirements.
Adani’s investment in Lanka’s energy sector complements its investment in Colombo’s West Container Terminal.
The head of the group, Gautam Adani, met with then-president Gotabaya Rajapaksa in October 2021 to advance the group’s presidency in Rajapaksa. The investment in the country came after a deal to develop the West Container Terminal at the Port of Colombo during the period.
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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