Adani Green signs a 20 yr long term agreement with Sri Lanka government
A 20-year power purchase agreement has been signed at a rate of 8.26 cents per kilowatt-hour.
The Sri Lankan government has given the green light to a deal with Adani Green, the renewable energy arm of Indian billionaire Gautam Adani, to construct wind power stations in the country. Adani Green Energy will be developing wind power stations in Mannar and Poonerin regions in Sri Lanka.
To evaluate the project proposal, the Sri Lankan Cabinet has appointed a negotiation committee, which was submitted by Adani Green. In February 2023, the renewable energy company received approval to invest $442 million in developing wind power plants with a capacity of 484 megawatts in the two regions located in Northern Sri Lanka.
Read Also : EIL and GAIL achieve major milestoneThe financially struggling South Asian island nation faced severe power outages and fuel scarcities amid an economic downturn in 2022. As a result, the country has been expediting renewable energy initiatives to mitigate against spikes in imported fuel expenses.
Read Also : Mahanadi Coalfields Places 289 Youths in IndustryNews Must Read
- EIL and GAIL achieve major milestone
- Mahanadi Coalfields Places 289 Youths in Industry
- Power Grid Corporation secures Major Rajasthan Transmission System Project
- Mazagon Dock bags Rs 121.7-crore order in Maharashtra for AI-based projects
- Indian Navy signs MoU with Bajaj Alliance Life Insurance for providing insurance products
- Indian Railways to install Kavach 4.0 system in 10,000 Locomotives
- IREDA Board approves new unit for retail businesses like PM Kusum
- UPPCL Secures Approval for 500 MW Solar Power Procurement
- BCPL Railway Infra bags Rs. 643.88 million project
- M K Dubey appointed as CMD, IRFC