Sri Lanka assent to Adani Green’s $442 Million Wind Power Project.

 With the BOI’s clearance, the Adani Group’s total investments in the island nation have now surpassed $1 billion.
It has already promised to contribute $700 million to a crucial Colombo port terminal, and construction on the West Container Terminal got under way in November 2022.
Authorities in Sri Lanka have yet to publicly address whether the Group’s plummeting stock price in the wake of the Hindenburg claims would have an effect on its ambitious ambitions in the island nation’s investment-starved economy.
The Group has denied any wrongdoing, despite the new report’s allegations that Adani Companies engaged in “brazen stock manipulation and accounting fraud scheme over the course of decades.”
The projects of the Adani Group caused controversy in Sri Lanka last year, with government critics questioning the openness and due procedure used to approve the projects.
Within months, Sri Lanka altered its energy legislation to do away with competitive bidding in the country’s energy industry after the Opposition accused the Group of making a “backdoor entry” into the sector.