Adani Green deal for Lanka wind power stations

Sri Lanka’s Cabinet of Ministers has approved a deal with Indian billionaire Gautam Adani’s renewable energy wing, Adani Green, to develop wind power stations in the country.

Adani Green Energy will develop wind power stations in Mannar and Poonerin in Sri Lanka. The Sri Lankan Cabinet has appointed a negotiation committee to evaluate Adani Green’s project proposal.

“Based on the recommendations of that Committee, the Cabinet of Ministers granted approval to the resolution forwarded by the Minister of Electricity and Power to accept the last price as USD $ 8.26 cents,” the government said.

The renewable energy company received approval in February 2023 to invest $442 million in the development of 484 megawatts of wind power plants in two areas located in northern Sri Lanka.

The two parties have signed a 20-year power purchase agreement. As per the agreement, Adani will be paid USD $8.26 cents per kilowatt-hour (kWh), subject to payment in Sri Lankan Rupees at the actual foreign exchange rate.