ECONOMYNEXT – Sri Lanka and India has inked a deal to build a 100MW solar plant near the North Eastern port of Trincomallee, in the same location where a joint venture thermal power plant was cancelled.
The Trincomalee Power Company Limited (TPCL) is a joint venture between state-run Ceylon Petroleum Corporation and NTPC Limited, a Government of India undertaking.
It will be located in Sampur, near the port of Trincomallee.
During a visit by Finance Minister Basil Rajapaksa to India last year “both sides had resolved to enhance investments from India in various sectors in Sri Lanka that would contribute to growth and expand employment,” India’s High Commission in Colombo said in a statement.
“The Sampur Solar Power Project is an important step in this direction.”
A Joint Venture and Shareholders’ Agreement (JVSHA) for the power company was inked by MMC Ferdinando, Chairman CEB, N S Ilangakoo, Vice-Chairman CEB who is chairman of Trincomallee Power Company Ltd and Narinder Mohan Gupta, Head of International Business Development, NTPC.
The 500MW coal plant cancelled in 2015 was also to be a joint venture between CEB and the NTPC of India.
The signing ceremony was attended by Finance Minister Basil Rajapaksa; Minister of Power PavithradeviWanniarachchi and State Minister of Aviation and Development of Export Zones, D V Chanaka and State Minister of Solar, Wind and Hydro Power Generation Projects Development Duminda Dissanayake.
India has provided a 500 million credit line to Sri Lanka to buy oil and another billion US dollar credit line is being finalized. (Colombo/Mar11/2022)