Indian billionaire industrialist Gautam Adani, the founder and chairman of the multinational conglomerate Adani Group, recently met with Sri Lankan President Ranil Wickremesinghe during the latter's official visit to New Delhi. The two leaders discussed a diverse array of projects, including the development of a green hydrogen plant in Sri Lanka, further extending Adani Group's footprint in the region's renewable energy landscape.
The Sri Lankan President embarked on a two-day official visit to India on July 20, at the invitation of Prime Minister Narendra Modi. This visit, marking Wickremesinghe’s first to India since taking office in 2022, came amidst the 75th anniversary of the establishment of diplomatic relations between the two nations.
During his visit, President Wickremesinghe explored collaboration opportunities with India, including a meeting with Adani to discuss the conglomerate's plans for the sustainable energy sector in Sri Lanka. Adani Group has been actively participating in numerous initiatives, such as the development of the Colombo Port’s West Container Terminal and a 500MW wind project.
The standout proposal in their discussion, however, was the establishment of a green hydrogen plant. Gautam Adani's green hydrogen venture aspires to capitalize on Sri Lanka’s potential as a hub for sustainable energy projects. Adani Group, already contributing to a $700 million container terminal at Colombo Port and a wind project, is now ready to channel its renewable energy expertise into green hydrogen production.
Green hydrogen, produced by splitting water using renewable energy sources, is gaining increasing traction as an eco-friendly alternative to traditional hydrogen production methods. This method promises a sustainable energy source with zero harmful greenhouse gas emissions, marking a significant stride in global efforts to transition to low-carbon energy solutions. Adani’s green hydrogen venture could potentially lead the way for other nations to emulate.
Simultaneously, Adani Green Energy, a branch of the Adani Group, is progressing on two wind projects, one with a capacity of 286 MW in Mannar and another with a capacity of 234 MW in Pooneryn, representing a combined investment of $500 million.
Adani's green hydrogen venture aligns with the goals set by Adani New Industries Ltd (ANIL), another branch of the Adani Group, to produce one million tonnes of green hydrogen by 2030. Although the production, storage, and transportation of green hydrogen present substantial challenges, Adani's expertise and commitment position them favorably to navigate these obstacles, ultimately driving the adoption of green hydrogen in Sri Lanka and pushing toward a sustainable, carbon-neutral future.