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India's Adani group to develop USD $1 billion renewable energy project in Mannar

India's Adani group have submitted a proposal to the Board of Investments of Sri Lanka (BOI) and the Ceylon Electricity Board (CEB) to develop a USD $1 billion renewable wind power project in Mannar. 

The Adani group has proposed to develop a 1,000 MW wind energy project in Mannar and has also expressed interest in a second wind energy project in Poonakary - situated in the Northern Province. 

The billionaire chairman, Gautam Adani visited Sri Lanka in October where he is said to have expressed interest in projects related to ports, power and renewable energy. The Chairman also briefly visited the Northern Province. 

CEB chairman M.M.C Ferdinando speaking to the Sunday Morning confirmed that they had received a proposal from the Adani group. He explained that the BOI had referred the proposal to the Cabinet-appointed Management Committee on Investments (CAMCI), which was set up up to fast track investment proposals. 

"Adani had referred a proposal to the BOI, and copied to me and the CAMCI headed by the Treasury Secretary" he said 

According to Ferdinando, Adani's proposal had received approval from the CAMCI last week. However, a start date for the project has not been confirmed as there are numerous other regulatory authorities that need to be consulted before construction can begin. 

"We don’t know when it will be finalised, because after the MoU is signed, several regulatory authorities on renewable energy need to be consulted. We (CEB) are only the energy purchaser; the SEA is the energy developer and allocates resources. There are then other authorities such as the environmental authority for environmental clearance, and so on"  Ferdinando explained. 

A memorandum of understanding (MoU) is set to be drawn up by the BOI and would then be signed by the BOI Sustainable Energy Authority (SEA), Treasure Secretary and CEB Chairman. 

Last week China had decided to suspend the construction of proposed hybrid energy system projects across the islets of Nainativu, Neduntheevu (Delft Island) and Analaitivu, citing "security concerns". 

The Chinese embassy tweeted that the suspension was due to a "security concern" from a third party. 

Read more at The Sunday Morning 

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