India's Adani cleared to build 350 MW of wind farms in Sri Lanka

Sri Lanka’s Board of Investment has given the green light to a plan by India’s Adani Green Energy Ltd (BOM:541450) to build two wind farms totalling 350 MW in the South Asian island country.

The regulator said on Thursday it has issued a letter of approval for the two projects that entail an overall investment of USD 442 million (EUR 417.2m).

The two wind farms will be built in about two years and are planned to start feeding electricity into the national power grid by 2025. They will be installed in Mannar and Pooneryn, both located in Sri Lanka’s Northern Province.

Under the plan, the construction phase of the projects is expected to create between 1,500 and 2,000 new jobs. According to local media reports, the environmental impact assessment for the 100-MW first phase of the scheme has been completed and a process for land acquisition is in progress.

Under its 2019-2025 renewable energy development programme, Sri Lanka aims to add 1.5 GW of solar PV capacity by end-2025, of which 1 GW will come from large-scale projects.

(USD 1.0 = EUR 0.944)

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