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Sri Lanka's 1st utility-scale solar plant starts operations

Solar panels. Featured Image: pornvit_v/Shutterstock.com

December 22 (SeeNews) - A partnership between LOLC Group and Faber Capital Limited on Wednesday opened a 10-MW photovoltaic (PV) park in Sri Lanka, which is the island country’s first utility-scale solar power plant.

The company, called Sagasolar Power (Private) Limited, built the solar PV facility on 45 acres (18.2 ha) of land within a dedicated energy development area in Baruthankanda, Hambantota district, Southern province. The country’s previous largest solar plant is a 1.3-MW facility also located in Hambantota.

The newly-commissioned solar park can generate roughly 20 GWh of electricity per year, which would be enough to meet the power consumption of about 15,000 local households.

DFCC Bank is the lead financier of this project, with Commercial Bank of Ceylon and Hatton National Bank serving as co-financiers. DFCC Bank is also supporting a 10-MW solar project at the same location developed by Anorchi Lanka (Pvt) Ltd.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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