Sri Lanka's Cabinet Approves 20-Year Power Purchase Agreement with Adani

COLOMBO (News 1st); Sri Lanka's Cabinet has granted approvalto enter in to a 20 year power purchase agreement with Adani Green Energy for the development of 484 MW of Wind power stations in Mannar & Poonaryn.

The negotiated tariff rate of USD 0.0826 per kWh, is to be paid in LKR on the prevailing exchange rate at the time of payment, said the country's Power and Energy Minister on Tuesday (7).

"On the current exchange rate considered as, 1 USD = Rs 300, the cost of energy will be Rs 24.78 per kWh. The current average cost of energy in SL is Rs 39.02 per kWh," he added.