Sri Lanka has signed a 20-year power purchase agreement with Adani Green Energy, a subsidiary of India’s Adani Group, for two wind farms developed by the company. This was confirmed through a statement from the country’s cabinet on Tuesday.
According to the agreement, Sri Lanka will pay 8.26 cents per kilowatt-hour to Green Energy Limited. News NDTV.
An Adani Group official said, hopefully, the electricity there will be added to the national grid within the next two years.
In February last year, the Adani Group received approval to build a 484 MW wind power plant by investing $442 million in the development of wind farms at Mannar and Punerin in Sri Lanka.
The Adani Group, led by Indian tycoon Gautam Adani, is also involved in developing a $700 million terminal project at Sri Lanka’s largest port in Colombo.
During the economic crisis of 2022, Sri Lanka experienced severe power shortages and fuel shortages. To overcome this deficit, the country is trying to rapidly implement renewable energy projects.
