Sri Lanka Approves 20-Year Power Deal with Adani Green Energy for Wind Power Stations

Sri Lanka's cabinet has approved a 20-year power deal with Adani Green Energy Limited.

The project entails the development of two wind power stations in Mannar and Poonerin, areas with promising wind energy potential. The approval of the Cabinet of Ministers was granted during their meeting where a memorandum of understanding (MoU) with Adani Green Energy Limited of India was endorsed.

A negotiation committee has been appointed by the Cabinet of Ministers to evaluate the project proposal submitted by Adani Green Energy. Following thorough assessment and deliberation, the committee recommended the acceptance of the proposed project at a rate of USD USD 8.26 cents per KW for the electricity generated. This rate, subject to payment in Sri Lankan Rupees based on the actual foreign exchange rate, has been approved by the Cabinet of Ministers.

In a move aimed at ensuring the sustainability and stability of the project, the Cabinet of Ministers further endorsed the awarding of the tender to M/s Adani Green Energy SL Limited for a duration of 20 years. 

The agreement with Adani Green Energy signifies a strategic partnership between Sri Lanka and India in advancing renewable energy goals. It also aligns with Sri Lanka's broader objectives of achieving energy security, reducing greenhouse gas emissions, and transitioning towards a more sustainable energy future.