COLOMBO, Feb 22 - Sri Lanka's Board of Investment on Wednesday approved two wind power plants by India's Adani Green Energy Ltd"The two wind power plants of 350 MW are scheduled to be commissioned in two years and accordingly, they will be added to the national grid by 2025," the statement added.
Adani Green Energy is the renewable energy unit of the embattled Adani Group, whose seven listed companies have lost some $125 billion in market value after a U.S. short sellerThe Adani Group has denied any wrongdoing. Sri Lankans have been struggling with rolling powers cuts for over a year as the country struggled to generate sufficient amounts of thermal and coal power, which has pushed the government to fast track renewable energy projects.power prices by a hefty 66% last week, part of efforts to nail down a $2.9 billion bailout from the International Monetary Fund , as it struggles to find a way out of its worst financial crisis in more than seven decades.
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Adani's market value falls below $100 billion as rout deepens stillBeaten-up Adani stocks have now fallen below $100 billion in market value after coming under short-seller attack
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