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India, Sri Lanka sign agreement to build solar power plant in Sampur

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To add 100 megawatts to national grid
Business
At the signing.

India and Sri Lanka have signed an agreement for developing a 100-megawatt solar power plant in the island nation’s eastern port district of Trincomalee, Sampur as part of the efforts to strengthen bilateral economic partnership, including through cooperation in the renewable energy sector.

The signing ceremony took place on Friday at the Ministry of Finance of Sri Lanka for the plant in the country’s Eastern province. The Joint Venture and Shareholders’ Agreement (JVSHA) for the Trincomalee Power Company Limited (TPCL) — a joint venture between National Thermal Power Corporation (NTPC) Limited from India and the Ceylon Electricity Board (CEB) for developing the 100-megawatt solar power plant at Sampur has been signed, the Indian Mission said in a statement.

“Signing of this JVSHA demonstrates yet again India’s ability to respond to Sri Lanka’s priorities in a comprehensive and mutually beneficial manner,” it said. “Our cooperation with Sri Lanka in this domain will only become stronger with the implementation of the USD 100 million Line of Credit offered by India to Sri Lanka for the development of solar power projects. We will continue to encourage and facilitate the expedited and effective implementation of this project. Similarly, there is significant interest among the private sector on both sides for cooperation in renewable energy which is likely to increase in the coming years,” the statement added.

“India is committed to expanding the role of renewable energy and helping build cleaner, greener and climate-resilient societies.”

At the international level, India has provided institutional solutions such as the International Solar Alliance and the Coalition for Disaster Resilient Infrastructure for Climate Adaptation. A 2013 agreement with NTPC to build a thermal power plant in Sampur was later abandoned.

In recent months, the public has experienced a shortage of many essentials due to the foreign exchange crisis.

The signing ceremony JVSHA in developing a 100 MW Solar Power Plant at Sampur took place at the Ministry of Finance in presence of the High Commissioner of India to Sri Lanka Gopal Baglay Finance Minister Basil Rajapaksa; Minister of Power Pavithradevi Wanniarachchi, 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.

The signatories also included NTPC Head of International Business Development Narinder Mohan Gupta, CEB Chairman M.M.C. Ferdinando, and CEB Vice-chairman and TPCL Chairman N.S. Ilangakoon.

(www.economictimes.indiatimes.com)

Monday, March 14, 2022 – 01:00











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