Sri Lanka Approves Power Deal with Adani Group

  • Sri Lanka has approved a 20-year agreement with Adani Group to buy electricity from a $442-million wind power plant. 
  • The state-run energy utility will purchase electricity at $0.0826 a kilowatt-hour, a third cheaper than the current average. 
  • The Adani plant is expected to be connected to the national grid within two years. 
  • The renewable energy project follows Sri Lanka’s award of Adani a $700-million strategic port terminal project in 2021. 
  • Adani Group, founded by Asia’s second-richest man, Gautam Adani, has ties with Indian Prime Minister Narendra Modi. 
  • The port project is seen as a bid to address concerns over Beijing’s expanding influence in the Indian Ocean.
Posted in Current Affairs.