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ADANI WIND PROJECTS TO DELIVER AFFORDABLE the projects are strategically significant for both nations. They will
POWER IN SRI LANKA support Sri Lanka’s goal of achieving 70% renewable energy
The Adani Group is set to establish two wind power projects in generation by 2030 and reaching carbon neutrality by 2050.
Sri Lanka with a combined capacity of 484 MW, offering the Currently, fossil fuel-based power plants account for over half of INTERNATIONAL
country’s cheapest tariff at 8.25 cents per unit (LKR 24.75). This Sri Lanka’s total power generation, while solar and wind contribute
rate is significantly lower than the tariffs from Sri Lanka’s existing less than 8%, and hydro power 31%.
renewable and traditional energy sources, which range from 8.75 As Sri Lanka’s power demand is projected to grow by around
cents to 26.99 cents per unit. 5% annually over the next 25 years, an additional 7,000 MW of
With an investment of over $1 billion, these wind projects will be renewable energy will be needed, primarily from solar (4,700 MW)
the largest of their kind in Sri Lanka. The Adani Group has received and wind (1,800 MW). The Adani wind projects will displace over
approval from the Sri Lankan cabinet, and power purchase $270 million worth of fossil fuels annually, saving valuable foreign
agreements are currently being finalized. Construction is expected exchange and providing much-needed foreign direct investment
to begin shortly thereafter, with project completion anticipated following the country’s recent economic crisis.
within two years. These projects will not only reduce Sri Lanka’s fossil fuel import bill
Located in the northern part of Sri Lanka near the Indian mainland, but also support the country’s transition to sustainable energy.

ADANI PORTS SECURES 30-YEAR CONCESSION TO APSEZ highlighted that the Dar es Salaam Port serves as a crucial
OPERATE TANZANIA PORT TERMINAL gateway port with a well-connected network of roadways and
Adani Ports and Special Economic Zone (APSEZ) announced its railways, facilitating efficient logistics operations.
entry into the international ports sector for the third time by taking The turnover of TICTS in 2023 was reported to be $43.7 million,
over the operations of Container Terminal 2 at the Dar es Salaam according to APSEZ’s disclosure to stock exchanges.
Port in Tanzania. This move is facilitated through its subsidiary, EAGL, formed as a joint venture between APSEZ’s international
Adani International Ports Holdings Pte Ltd. The company disclosed ports arm, AD Ports Group, and East Harbour Terminals Limited,
this development on Friday, revealing that it has signed a 30-year will see APSEZ as the controlling shareholder, consolidating EAGL
concession agreement with the Tanzania Ports Authority. on its books.
In a strategic move, APSEZ, India’s largest port operator, formed a Karan Adani, Managing Director of APSEZ, expressed confidence
joint venture last year with Abu Dhabi Ports Group and East Harbour in the venture’s potential, stating, “The
Terminals Ltd. Through this venture, it acquired the Hong Kong- signing of the concession for Container
based special purpose vehicle (SPV), which operates the terminal, Terminal 2 at Dar es Salaam Port is in line
for $39.5 million. with APSEZ’s ambition of becoming one of
The acquisition involved East Africa Gateway Ltd (EAGL) purchasing the largest port operators globally by 2030.
a 95% stake in Tanzania International Container Terminal Services We are confident that with our expertise
Limited (TICTS) from Hutchison Port Holdings Limited and Harbours and network in ports and logistics, we will
Investment Limited. TICTS, the current owner of port handling be able to enhance trade volumes and
equipment and manpower, will now operate Container Terminal economic cooperation between our ports and East Africa. We
2 under Adani’s management. will strive to transform Dar es Salaam Port into a world-class port.”
Container Terminal 2, boasting four berths, has an annual cargo APSEZ already operates an international port in Israel – the Haifa
handling capacity of 1 million TEUs (twenty-foot equivalent units) port – and is constructing a terminal in Sri Lanka. It had also
and managed 0.82 million TEUs of containers in 2023, accounting acquired a port in Myanmar, which it eventually sold at a discount
for 83% of Tanzania’s total container volumes. amid allegations of contributing to civil unrest in the country.

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