Sri Lanka's Ministry of Power and Energy has announced that it is now accepting expressions of interest from developers for the development of ground on grid solar system or floating solar PV projects ranging from 1 MW to 5 MW. The projects will be located close to three Sri Lankan substations: Matara, Pallekele, and Vavunathivu, each with their own capacity limits of 10 MW, 7 MW, and 8 MW respectively.
Developers selected for the projects will be awarded a 20-year power purchase agreement with Ceylon Electricity Board (CEB), the country's state-owned utility company. In addition to securing the PPA, developers will also be required to purchase or lease land for the projects.
This is a timely move by Sri Lanka as the country seeks to transition to a more sustainable energy future. Solar energy has emerged as a key player globally in the race towards renewable energy adoption and Sri Lanka aims to harness the potential of this technology to meet its energy needs.
This initiative is expected to help Sri Lanka achieve its target of generating 70% of the country's electricity from renewable energy sources by 2030. It is believed that these solar projects will help reduce the country's dependency on fossil fuels, promote energy security and reduce carbon emissions, contributing towards mitigating the impacts of climate change.
The call for expressions of interest is an opportunity for local and international developers to participate in large-scale solar energy development in Sri Lanka. It is also an opportunity for stakeholders in Sri Lanka's energy sector to collaborate towards achieving the country's energy transition goals.
