Adani Green: Adani gets big project in Sri Lanka, will help in handling the weakening confidence of investors.

Adani Green Energy Limited Company has been successful in securing major contracts in the green energy sector in Sri Lanka. Sri Lanka’s Board of Investment has given approval to the company to set up two wind power plants in Mannar and Pooneryn. The company has to complete this $ 442 million project in the next two years. The project will generate 500 MW of electricity, which is to be connected to Sri Lanka’s National Grid by 2025. It has been claimed that after this contract, about two thousand employment opportunities will also be created in Sri Lanka. How much securing this huge contract will help the company regain the trust of its investors remains to be seen.

Amidst the uproar after the Hindenburg report, opposition parties in India alleged that due to pressure from the central government, the Adani group was able to get big contracts in several other countries, including Sri Lanka. Even after these allegations, Adani Group getting a big project in Sri Lanka tells that the company is moving forward on its path.

On Wednesday itself, Sri Lankan Energy Minister Kanchana Wijesekara had talked about discussing investment in the energy sector with the Adani group. Discussions were going on for a long time between Sri Lanka and the company regarding this project. Now it has been finalized. The company already operates a power plant in Colombo.

Adani Green Energy Limited has received this contract at a time when its shares are witnessing a record decline. Due to the decline in the shares of the group, its market cap has decreased by about eight lakh crore rupees. Adani Green Energy Limited Company, which has got this contract in Sri Lanka, its shares alone have fallen by about 71.88 percent after the Hindenburg report. Even after this, the company is surprised to get a big contract in Sri Lanka.