Adani Green Energy, run by Gautam Adani, has made a big deal with Sri Lanka. Sri Lanka and Adani agreed to work together for 20 years on two wind power projects. Sri Lanka talked about this partnership in a statement.
Adani Green Energy and Sri Lankan Govt to develop wind power stations
On May 7, the government of Sri Lanka gave the green light to a deal with Adani Green Energy, a company led by Gautam Adani, to build wind power stations in Mannar and Poonerin. This agreement is important because Sri Lanka has been facing Electricity Problems. They don’t have sufficient electricity supply and its economy has also going down since 2022. Sri Lanka has been having blackouts and not enough fuel.
Sri Lanka wants to move towards using more renewable energy sources like wind energy, solar energy, and hydro energy. By investing in projects like these wind power stations with the help of Adani, Sri Lanka will use less fuel and it will import less from other countries. This will also help Sri Lanka to deal with economic problems better in the future.
20 years agreement signed between Adani Green and Sri Lankan Govt
The Sri Lankan cabinet has agreed to a 20-year power purchase agreement with Adani Green Energy. This means that the company will provide electricity for 20 years, and in return, they will be paid 8.26 cents for every kilowatt-hour of electricity they produce.
To make a good and fair deal for the country, Sri Lanka has set up an agency to review the deal from Adani Green Energy. This committee has been approved by the cabinet, which is like the government’s decision-making group.
Last year, Adani Green Energy got permission to invest 2 million in building wind power plants in Mannar and Poonerin. Adani Energy is setting up new plants which will generate a total of 484 megawatts of electricity. Adani Group is also working on a big project at Colombo’s port, investing 0 million. This shows that Adani is becoming a partner of Sri Lanka in making renewable energy.
