Sri Lanka okays Adani's USD 442-mn wind power plants in Mannar and Pooneryn

New Delhi [India], February 24 : Sri Lanka's Board of Investment has approved the two wind power plants of Adani Green Energy to be built in Mannar and Pooneryn at a total investment of USD 442 million.
According to the statement released by the Board of Investment of Sri Lanka on Friday, it has issued a letter of approval to Adani Green Energy Limited, for the two wind power plants. Also, the new project will generate 1,500-2,000 new employment opportunities.
The wind power plant in Mannar will operate at a capacity of 250 megawatt (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, will be added to the national grid by 2025.
Fitch Ratings on Thursday affirmed the 'BBB-' ratings on the USD 400 million senior secured notes issued by the restricted group of India-based Adani Transmission Ltd (ATL, BBB-/Stable).
The outlook is stable, the statement from Fitch said. The restricted group includes six co-issuers -- Barmer Power Transmission Service Limited, Chhattisgarh-WR Transmission Limited, Hadoti Power Transmission Service Limited, Raipur-Rajnandgaon-Warora Transmission Limited, Sipat Transmission Limited and Thar Power Transmission Service Limited and one non-issuing Special purpose vehicle (SPV), Adani Transmission (Rajasthan) Ltd (ATRL).
The Dhaka Tribune in a report on Thursday said the Adani Group will supply electricity to Bangladesh for the next 25 years.
According to the agreement the company signed with the Bangladesh government, Adani is setting up a power plant in the Godda district of Jharkhand and once the plant starts to produce power, it will supply electricity to Bangladesh.
The report added that Bangladesh signed the deal with Adani Power back in 2017.