Power purchase agreement for 100 MW project signed

Power purchase agreement for the 100 MW Ground Mount Solar power project in Siyambalanduwa was signed by Rividhanavi (Pvt) Limited with Ceylon Electricity Board (CEB) yesterday. Rividhanavi (Pvt) Limited is a consortium of shareholders, Lakdhanavi Limited, Windforce PLC and The Blue Circle PTE Ltd of Singapore.

The total project investment is expected to be USD 132 million.

The project was advertised by the CEB for a competitive bidding process in September 2022, evaluated in 2023 and was awarded to the lowest and successful bidder at the end of 2023.

Rividhanavi will also build the 27.5 km long Transmission line for the project and will transfer the line to the CEB. Energy price is USD cents 8.00/kWh flat for 20 year period. Total project area is around 219 hectares.

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