India signs agreement with Sri Lanka to develop 100 MW solar plant
India is offering help to Sri Lanka to develop its cleaner, greener and climate resilient societies, the Indian High Commission in Colombo said
India and Sri Lanka on Friday signed an agreement to develop a 100 MW Solar Power Plant at the island-nation’s eastern port district of Trincomalee, thereby continuing to enhance investments from India in various sectors in Sri Lanka that would contribute to growth and expand employment.
A statement by the Indian High Commission in Sri Lanka said that the Joint Venture and Shareholders’ Agreement (JVSHA) for the Trincomalee Power Company Limited (TPCL) which is a joint venture between NTPC Limited from India and the Ceylon Electricity Board (CEB) for developing a 100 MW Solar Power Plant at Sampur in Sri Lanka was signed.
Indian High Commissioner Gopal Baglay attended the signing ceremony that took place at Sri Lanka’s Ministry of Finance in presence of the Minister of Finance, Basil Rajapaksa, Minister of Power, Pavithradevi Wanniarachchi, State Minister of Aviation and Development of Export Zones, DV Chanaka; and State Minister of Solar, Wind and Hydro Power Generation Projects Development, Duminda Dissanayake.
The signatories to this tripartite document included Narinder Mohan Gupta, Head of International Business Development, NTPC; MMC Ferdinando, Chairman of the CEB, and N.S. Ilangakoon, Vice-chairman (CEB) and Chairman TPCL, it stated.
It may be recalled that during the visit of Sri Lanka’s Minister of Finance 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, the statement informed.
The Sampur solar power project is an important step in this direction, it added.
According to the 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.
“We will continue to encourage and facilitate the expedited and effective implementation of this project,” it stated.
India is committed to expanding the role of renewable energy and helping build cleaner, greener and climate resilient societies, the statement noted.
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, it further said.
Our cooperation with Sri Lanka in this domain will only become stronger with the implementation of the US$ 100 million Line of Credit offered by India to Sri Lanka for development of solar power projects in Sri Lanka, the statement further noted.
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, it further mentioned.