June 17, 2024

Sri Lanka agrees to acquire power from Adani Green

8 May 2024 | TITN Team

A wind power project in the Northern Province of the island, at Mannar and Pooneryn, is being carried out by Adani Green Energy, and Sri Lanka has agreed to buy power for $0.0826, or 8.26 cents, per kWh from them.

On Monday, the country’s Cabinet approved a proposal for a 20-year power purchase deal with Adani Green Energy to create wind power facilities capable of producing 484 MW of power.

“On the current exchange rate considered as 1 $ = [Sri Lankan] ₹300, the cost of energy will be ₹24.78 per kWh. The current average cost of energy in SL is ₹39.02 per kWh,” Minister of Power and Energy Kanchana Wijesekera said on social media platform ‘X’ on Tuesday. 

The minister stated that although Sri Lanka will make payments in Sri Lankan Rupees, based on the currency rate in effect at the time of payment, specifics on provisions regarding potential rate adjustments were still pending.