Billionaire Gautam Adani on Friday proposed to set up a green hydrogen plant in Sri Lanka, where his conglomerate is already developing a container terminal and a 500 MW wind project.
In order to discuss the on-going project and the new venture, Adani held a meeting with Sri Lankan president Ranil Wickremesinghe.
The Adani Ports and Special Economic Zone (APSEZ) is developing a container terminal worth $700 million at Colombo Port, which is a major transshipment hub in South Asia.
The other projects of the Adani Group includes development of Vizhinjam seaport in Kerala, just 176 nauticals miles from the Colombo port. The conglomerate is also setting up two wind projects of 286 MW in Mannar and 234 MW in Pooneryn, which is at an investment of $500 million. It is expected that the projects will be completed by 2024.
Green hydrogen is the new product that the billionaire has announced without sharing much details. It is considered cleaners than other forms of hydrogen as it is produced by splitting water using renewable energy. Hydrogen emits water vapour when it burns.
By 2030, Adani New Industries Ltd (ANIL) is targeting to produce one million tonnes of green hydrogen.