Adani to spend over USD 1bn on wind projects in Sri Lanka - report

Adani Green Energy Ltd (BOM:541450), or AGEL, is expected to invest more than USD 1 billion (EUR 930m) in the construction of two wind farms and the related power transmission infrastructure in Sri Lanka, the Press Trust of India (PTI) reports, quoting sources.

The wind farms will be built in Mannar town and Pooneryn village in the Northern Province and will have a total installed capacity of 484 MW, more than any other power plant in the island nation, according to the PTI report.

As announced in May, AGEL signed a 20-year power purchase agreement (PPA) with the government of Sri Lanka in connection with two wind projects that will sell their output at USD 82.6 per MWh.

(USD 1.0 = EUR 0.930)

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