Sri Lanka is opening opportunities for solar developers by launching a 25 MW solar tender at three substations, offering 20-year power purchase agreements.
Photo for illustrative purposes.
Sri Lanka is taking a significant step towards expanding its renewable energy capacity with the launch of a 25 MW solar tender. The Ministry of Power and Energy recently announced that it is welcoming expressions of interest from developers to establish ground-mounted or floating solar photovoltaic (PV) projects. These projects will operate on a build, own, and operate (BOO) basis, contributing to the nation's clean energy goals.
The tender invites proposals for solar PV projects ranging from 1 MW to 5 MW in size. These projects will be strategically located near three Sri Lankan substations: Matara (10 MW), Pallekele (7 MW), and Vavunathivu (8 MW). Selected developers will have the opportunity to secure a 20-year power purchase agreement (PPA) with the Ceylon Electricity Board (CEB), Sri Lanka's utility provider.
To facilitate the solar installations, developers will need to acquire or lease land for their projects. Additionally, they will be responsible for covering the entire cost of grid connection, including power transmission lines, transformers, protection systems, and metering equipment. Ensuring compliance with environmental regulations, government approvals, and statutory licenses is also a prerequisite for project development.
Project developers have until November 8 to submit their proposals for consideration, providing flexibility for the participation of multiple projects at each substation.
Sri Lanka has been steadily increasing its solar PV capacity and is now actively seeking to further diversify its energy mix. As of the end of 2022, the country had 714 MW of installed solar PV capacity, as reported by the International Renewable Energy Agency (IRENA).
This solar tender aligns with Sri Lanka's commitment to harnessing clean energy sources and reducing its reliance on fossil fuels, contributing to a more sustainable and environmentally friendly future.
Investors and developers in the renewable energy sector now have the opportunity to play a vital role in Sri Lanka's transition towards a greener and more sustainable energy landscape.
Source: pv-magazine.com