Managing Director, Adani Energy Anil Sardana, State Minister of Investment Promotion, Dilum Amunugama, Secretary - Ministry of investment Promotion M. M. Naimuddin, Chairman BOI, Dinesh Weerakkody and Director General BOI, Renuka Weerakone at the signing ceremony.
The Board of Investment (BOI) signed one of the highest FDI generating agreements in recent times with Adani Green Energy Limited of India to the value of USD 442 million on Wednesday.
This is to construct and operate green energy projects in Manner 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. The two wind power plants of 350 MW are scheduled to be commissioned in two years and accordingly, they will be added to the national grid by 2025.
This venture will generate 1,500-2,000 new employment opportunities. Adani Green Energy Limited commissioned 1,915 MW renewable projects in the first nine months of Financial Year 2023 and the group and revenue from Power Supply increased by 39% YoY to Rs. 3,695 Indian Core. Over the years, the company has emerged as the largest renewable player in India and one of the largest in the world.
State Minister of Investment Dilum Amunugama replying to a Daily News Business query said that the Adani Group will not be given any ‘special’ benefits for this investment. “They will also receive the same tariff rate offered to local alternative power supplies” he said. The Minister said that Sri Lanka drains a huge amount of foreign exchange overseas to purchase fuel and coal. “The locally produced green energy can bring down this cost by huge volumes and these producers both local and forging should be egged on.”
He said that sadly some of the unions, few engineers attached to CEB are not supporting this endeavor. Amunugama said that the restructuring process will help to overcome this to a great extent. He also said that with the revision of the CEB traffic the Ministry will have enough money to repay the alternative energy producers who were in arrears.
The Minister also disclosed that three more large renewable energy producing projects will be soon authorized by the BOI. The Ahani Group is also building a 1.4-kilometre, 20-metre deep jetty in Colombo harbour which will be the only deep-sea container port between Dubai and Singapore.
The Board of Investment (BOI) enterprises have shown resilience and contributed to the national economy by generating a sum of USD 8.7 billion through merchandise exports, pulling in 8% of growth in 2022 compared to the year 2021.
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