The Cabinet has granted approval to implement the Wind Farm Project in Mannar Island on a build, own and operate (BOO) basis with private sector investors.
According to the government, Cabinet approval was received in October 2020 for the implementation of a project to increase electricity generation by installing 6 additional turbines by spending 47 million US Dollars under Asian Development Bank (ADB) funds to operate a wind power station on Mannar Island.
However, it is not possible to use the funds of the Asian Development Bank until the government’s foreign debt restructuring program is implemented.
Accordingly, the Cabinet has approved the proposal made by the Minister of Power and Energy to implement the project on a BOO basis with private sector investors selected on a competitive basis with an operational period of 20 years. (NewsWire)