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.

Adani met visiting Sri Lankan President Ranil Wickremesinghe to discuss ongoing projects and the new venture.

"Great Honour to have met H.E. President Ranil Wickremesinghe to discuss a fascinating set of projects in Sri Lanka including continued development of Colombo Port West Container Terminal, 500 MW wind project, and extending our renewal energy expertise to produce green Hydrogen," he tweeted.

The Adani Ports and Special Economic Zone (APSEZ) is developing a USD 700 million container terminal at Colombo Port, which is a major transshipment hub in South Asia.

The Adani group is also developing the Vizhinjam seaport project in Kerala, just 176 nautical miles from the Colombo port.

The conglomerate's renewable energy firm, Adani Green Energy, is setting up two wind projects of 286 MW in Mannar and 234 MW in Pooneryn at an investment of USD 500 million. The projects are to be completed by December 2024.

Green hydrogen is the new project that the billionaire indicated without giving details.

Green hydrogen is considered cleaner than other forms of hydrogen as it is produced by splitting water using renewable energy. Hydrogen emits water vapour when it burns.

Adani New Industries Ltd (ANIL) is targeting to produce one million tonnes of green hydrogen by 2030.

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