Sri Lankan and Adani Group officials exchanging the agreement. Credit: Board of Investment of Sri Lanka.

The Board of Investment (BOI) of Sri Lanka has given approval to Adani Green Energy Limited to set up two wind power projects, worth a total of $442m.

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The Adani Green Energy Limited will build two wind farms in Sri Lanka – one in Mannar and the other at Pooneryn.

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The Mannar wind farm will have a 250MW operating capacity, while the Pooneryn wind farm will have a 100MW capacity.

At a meeting in Colombo with Adani Group officials to finalise the wind power project, Sri Lankan Energy Minister Kanchana Wijesekera said: “We expect the power plants to be commissioned by December 2024.”

Once the two wind power projects are expected to become operational in two years, they will be integrated into the national grid by 2025.

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Furthermore, the new projects are expected to create between 1,500 and 2,000 new jobs.

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This is considered a major foreign investment in the island nation.

In 2021, Sri Lanka awarded Adani group a $700m contract for the construction of a strategic port terminal project in Colombo, reported Mint.

The company is developing a 1.4km, 20m deep jetty adjacent to a Chinese-operated terminal at Colombo harbour, which is the only deep-sea container port between Singapore and Dubai.