Sri Lanka approves PPA for 700-MW floating solar project

The government of Sri Lanka has approved a power purchase agreement (PPA) with United Solar Group of Australia that will allow the Aussie company to install a 700-MW floating solar park with battery storage.

The proposal represents a foreign direct investment of USD 1.72 billion (EUR 1.59bn), Sri Lankan Power and Energy Minister Kanchana Wijesekera said in a Twitter post on Tuesday. The tariff at which PPA is to be signed was not disclosed.

United Solar Group’s plan envisages using 437 hectares of water surface at the Poonakary Lake in the town of Kilinochchi, in Sri Lanka’s Northern Province. The photovoltaic (PV) complex will be coupled with a battery storage facility of 1.5 GWh.

When it initially unveiled the proposal, United Solar Group said that the project was a partnership with the Sunpower Consortium, expecting the plan to enable the production of 1,100 GWh of green power annually. The scheme was put forward in response to an Expressions of Interest from the Sri Lankan government for projects of above 50 MW.

According to local media, around USD 500 million of the total investment will be allocated for domestic project components.

(USD 1.0 = EUR 0.926)

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