NEW DELHI: Adani Green Energy is said to have secured a 20-year power purchase agreement (PPA) with Sri Lanka for the development of two wind projects.
According to a report, the agreement, finalised by the Sri Lankan government, encompasses projects with a total capacity of 484 megawatts (MW) to be constructed in the towns of Mannar and Pooneryn.
Adani Green will be compensated at a rate of $0.0826 per kilowatt hour (kWh) for the electricity generated.
This marks Adani Group’s second major investment in Sri Lanka, following their involvement in the West Container Terminal project at Colombo port.
In April 2024, Adani Green Energy Limited announced a significant expansion plan with a planned investment of Rs 2.3 trillion ($27.6 billion) to boost its solar and wind power generation capacity by 2030.
This ambitious strategy includes an additional Rs 50 billion dedicated to renewable projects across India.
These investments aim to propel Adani Green towards achieving a 45 GW operating portfolio by 2030, a substantial increase from their current 10.9 GW capacity.
Demonstrating their commitment to renewables, Adani Green recently commenced operations at a 551 MW solar power plant in Khavda, Gujarat, India.
This facility is already supplying power to the national grid, and the company envisions transforming Khavda into the world’s largest solar park with a projected capacity of 30 GW.