The wind power stations will be located in Mannar town and Pooneryn village, situated in Sri Lanka's Northern province.
. Adani to invest $442 million in wind power plants with a capacity of 484 megawatts
. Stations to be located in Mannar and Pooneryn in Northern Sri Lanka
. Power purchase agreement's compensation rate at 8.26 cents per kWh
1.Sri Lanka has signed a 20-year deal with Adani Green Energy Ltd to construct two wind power stations, addressing energy needs and moving towards renewable energy sources.
2. Adani Green Energy, led by Gautam Adani, will invest $442 million in developing wind power plants with a total capacity of 484 megawatts.
3 .The power purchase agreement spans 20 years, with Adani Green Energy receiving compensation at 8.26 cents per kilowatt-hour.
4. Sri Lanka's Cabinet formed a negotiation committee to evaluate Adani Green's project proposal, indicating careful consideration.
5. Adani Group's involvement extends beyond energy projects to include a $700 million terminal initiative at Colombo's largest port, furthering infrastructure development in Sri Lanka.
6. Sri Lanka's pursuit of renewable energy projects is driven by economic difficulties, including power outages and fuel scarcities experienced during the 2022 economic crisis.
7. Adani Green's shares experienced a surge following the announcement, reflecting investor confidence in the venture.
8. The US government-backed International Development Finance Corp provided a loan of approximately $553 million to Adani Ports for a container terminal project in Sri Lanka, indicating international support and investment in the region's infrastructure.
#green energy #renewable energy #geothermal energy #solar energy