From white elephants to greening now

A green hydrogen factory will be built in Sri Lanka by billionaire Gautam Adani, whose group is currently building a container terminal and a 500 MW wind project here. The Lankan President was in town when Adani met him to talk about the new business and continuing projects. It was considered a privilege to meet with the President to talk about a fascinating range of Sri Lankan initiatives, such as the ongoing expansion of the Colombo Port West Container Terminal, a 500 MW wind project, and expanding our knowledge of renewable energy to create green hydrogen. 

At Colombo Port, a significant transshipment centre in South Asia, the Adani Ports and Special Economic Zone (APSEZ) is building a $ 700 million container port. Just 176 nautical miles from the port of Colombo, in the state of Kerala, the Adani group is also building the Vizhinjam seaport project. Adani Green Energy, a subsidiary of the company, is constructing two wind farms totalling 286 MW in Mannar and 234 MW in Pooneryn at a cost of $ 500 million. By December 2024, the projects are expected to be finished.

The billionaire mentioned a new idea but did not provide any details: green hydrogen. Indians have done business in Sri Lanka for a very long time. By starting this company, we were able to create a bridge of goodwill between the two nations. It will, in my opinion, benefit the Sri Lankan people. India supported this nation’s downtrodden people throughout that time. India and the Indian business community supported Sri Lanka’s economic recovery throughout the financial crisis last year. It should be mentioned that Sri Lanka is still recovering from the financial crisis.

Both the Indian Government and the corporate sector backed it in this regard. Indian businesspeople started operating in Sri Lanka even during the first crisis to show the rest of the world that the nation’s financial situation is stable. The leaders of this nation have supported Indian businesses conducting business in Sri Lanka for the past 40 years.

The President has also offered his support. It should be noted that Sri Lanka’s economic and physical growth would be supported by the Indian Government and business sector. Indian promise, that is. UNESCAP conducted an exploratory mission with the aim of assessing the objectives associated to developing a private sector strategy for sustainable development in Sri Lanka. The mission also concentrated on particular programs, including social enterprise models and interventions by inclusive business in particular industries.

The private sector must assist the nation’s development goals in a more meaningful way if inclusive and sustainable development is to be achieved. Innovative large-scale solutions to urgent problems, such as the present “triple crisis” in food, energy, and finance, are made possible by this industry. Additionally, it can help promote equitable and sustainable growth while reducing the ongoing effects of climate change.

Inclusive businesses provide people with modest incomes with economically viable goods, services, and job possibilities. They promote economic expansion and diversity while aiding in attempts to reduce poverty. Environmental sustainability is given top priority in the operations of sustainable businesses, which also implement circular business models and address climate change and the green transition in their goods and services.