The Sri Lankan government is engaged in negotiations with India’s Adani Group to reduce the cost of power from two wind power projects planned for the country’s Northern province. These discussions are part of a broader effort to ensure affordable and sustainable energy production as the nation works towards stabilising its power sector.

The projects, backed by an investment of $442 million from the Adani Group, are expected to generate 500 MW of renewable energy. This initiative aligns with Sri Lanka’s long-term strategy to enhance its renewable energy capacity, reduce dependence on fossil fuels, and mitigate the on-going energy crisis. By increasing the share of clean energy in its power grid, Sri Lanka aims to improve energy security, lower electricity costs for consumers, and support its economic recovery.

The government’s push for renewable energy is also in line with its commitment to achieving a more sustainable and environmentally friendly energy mix. The wind power projects are anticipated to play a crucial role in meeting the country’s growing energy demands while reducing carbon emissions and promoting economic growth through infrastructure development and job creation in the renewable energy sector.

News source: Financial Express