The government of Sri Lanka has initiated discussions with India’s Adani Group to reduce the cost of electricity generated from two wind power projects being built in the country’s northern province. This announcement was made by the cabinet spokesperson on Tuesday. The two wind power projects, being developed by Adani Group, are expected to generate a significant amount of electricity, contributing to the country’s energy mix.
The government is seeking to negotiate a better deal with Adani Group to reduce the cost of power generation, which is expected to benefit the consumers and help the country to manage its electricity costs. The exact details of the proposed deal, including the cost and timeline, have not been disclosed, but sources say that the government is aiming to reduce the cost of electricity generated from these projects by as much as 10-15%.
The Adani Group, one of India’s largest business conglomerates, has been actively pursuing opportunities in the renewable energy sector, including wind and solar power, globally. The group has a strong presence in Asia, including India, and has been investing in various renewable energy projects.
Sri Lanka, which has been struggling with an acute power crisis in recent years, is actively promoting the development of renewable energy sources, including wind and solar power, to meet its growing energy demands. The country has set ambitious targets to increase its renewable energy capacity to 30% of its total energy mix by 2030. The proposed wind power projects by Adani Group are expected to make a significant contribution to achieving this target.
The government’s efforts to negotiate a better deal with Adani Group demonstrate its commitment to ensure that the benefits of renewable energy development are shared by the people of Sri Lanka. By lowering the cost of electricity generation, the government can reduce the financial burden on consumers and help the country to achieve its ambitious renewable energy targets. Overall, the talks with Adani Group are a significant milestone in Sri Lanka’s efforts to transition to a cleaner, more sustainable energy mix.