India's Adani Green seals 20-year wind PPA in Sri Lanka

Adani Green Energy Ltd (BOM:541450) has entered into a 20-year power purchase agreement (PPA) with the government of Sri Lanka in connection with two wind projects that the Indian company is set to implement in the island nation.

Under the terms of the PPA, Adani Green will sell the electricity at USD 82.6 (EUR 76.7) per MWh, Reuters reported on Tuesday, quoting a statement by the Sri Lankan cabinet.

As announced in February 2023, Sri Lanka’s Board of Investment gave the green light to Adani Green’s plan to build two wind farms in Mannar and Pooneryn, both located in Sri Lanka’s Northern Province. It was estimated that the projects entail an overall investment of USD 442 million.

According to the Reuters report, the combined capacity of the two wind farms will be 484 MW.

(USD 1.0 = EUR 0.929)

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