02nd April 2025: India’s Adani Green Energy Ltd (AGEL) has announced plans to add a staggering 3 GW of renewable energy capacity by December 2025. Regrettably, Sri Lanka’s hesitancy and slower adoption of green energy policies pose significant missed opportunities for economic growth and energy independence.
AGEL, part of the Adani Group conglomerate, is rapidly expanding its renewable portfolio with major solar and wind projects across India. The company has already connected 2.4 GW of renewable capacity at the Khavda plant in Gujarat to the grid and plans to add 5-7 GW annually from this site alone. The Khavda site, spread across 538 sq kms of barren land, will be world’s largest single location energy generation site by the turn of the decade, by when it will have an operational capacity of 30GW.
AGEL currently has 14.2 GW of operational assets, which by 2030 is expected to reach 50GW. The company plans to invest $4-5 billion annually to achieve this.
While international investors such as Blackrock and TotalEnergies partner with Adani Green Energy, Sri Lanka has been slower to create the regulatory frameworks to attract similar high-profile renewable energy investments.
The massive renewable projects in India are creating thousands of direct and indirect jobs, another economic opportunity that Sri Lanka could benefit from, particularly in rural areas with high solar and wind potential. Sri Lanka’s continued reliance on imported fossil fuels leaves it vulnerable to global energy price fluctuations, a risk which can be mitigated through greater renewable energy adoption.
As India distinguishes as a renewable energy leader, with landmark projects like the Adani’s Khavda plant, Sri Lanka risks falling behind in the global transition to clean energy. It may be recalled that in February, Adani said it is withdrawing its proposal to set up a 484 MW wind project due to permission delays. If the project had fructified, it would have been a shot in the arm for SL’s energy security as well as net zero targets.
Adani Green Energy’s successful financing model, which has attracted investments valued at over $5.2 billion through strategic partnerships, demonstrates how well-structured renewable energy policies can mobilize significant capital, a template that could benefit Sri Lanka’s energy sector.
Industry analysts suggest Sri Lanka’s abundant wind and solar resources, are strong potential to implement similar renewable energy initiatives on an appropriate scale, creating a more resilient energy infrastructure, reducing the carbon footprint and dependency on imported fuels.
These contrasts highlight the importance of proactive renewable energy policies Sri Lanka should adopt to avoid further missed opportunities in the rapidly changing green energy sector.
