Cabinet approval has been received to invite expression of interest proposals from prospective investors for developing renewable energy projects with a capacity of 50 MW or more in order to assist in the implementation of accelerated renewable energy development programs in the country.
Accordingly, United Solar Energy SL Pvt. Company has submitted a proposal to develop a solar power plant of 700 MW with a battery energy storage system at Kilinochchi Poonakary Lake to provide a power supply of 134 MW.
The project is proposed to be implemented with a total investment of USD 1727 million as a 100% foreign direct investment. From this amount, USD 500 million will be used for domestic project components. The project proponent company has proposed to construct 03 anicuts around the Poonakari lake to prevent the ingress of sea water at a cost of 13.5 million, a part of the proposed project. Instead, the Northern Provincial Council,
The Northern Provincial Irrigation Department and the Agricultural Development Department have already agreed to grant 1080 acres of the shallow area of the lake to the company on a 35-year lease agreement to establish the 700 MW power plant. As such the Cabinet of Ministers approved the proposal presented by the Minister of Power and Energy to accept the project proposal presented by the United Solar Energy SL Pvt Company in principle and to appoint a cabinet appointed negotiation committee to evaluate the proposal and make recommendations.
