Adani Green Energy Ltd has finalized a landmark 20-year power purchase agreement (PPA) with the government of Sri Lanka, paving the way for the implementation of two wind projects by the Indian company in the island nation.
Under the terms of the agreement, Adani Green will supply electricity at a rate of USD 82.6 (EUR 76.7) per MWh, as reported by Reuters on Tuesday, citing a statement from the Sri Lankan cabinet.
The agreement marks a significant milestone in Adani Green's expansion efforts, following the approval granted by Sri Lanka's Board of Investment in February 2023 for the construction of two wind farms in Mannar and Pooneryn, situated in Sri Lanka's Northern Province. The projects, with an estimated total investment of USD 442 million, are poised to contribute substantially to Sri Lanka's renewable energy infrastructure.
According to the Reuters report, the combined capacity of the two wind farms will reach 484 MW, bolstering Sri Lanka's efforts to enhance its renewable energy capacity and reduce dependence on conventional power sources.
