ECONOMYNEXT – Sri Lanka will purchase power from wind plants built by Adani Green Energy Limited of India at 8.26 US cents a kilo watt hour, a government statement said.
The cabinet had approved the price after agreement was reached by a Cabinet Appointed Negotiations Committee.
Adani will be paid in rupees at the prevailing exchange rates, Power and Energy Minister Kanchana Wijesekera confirmed on his X (twitter) page.
“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.
“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.”
The contract will be valid for 20 years. The 484 MegaWatts of plants will be built in Mannar and Pooneryn.
Note: Edited to add Minister’s comment. (Colombo/May7/2024)