Canadian firm to invest US$ 150mn to develop solar power project in Nilaweli
By: Staff Writer
Colombo (LNW): Ontario-based American Clean Energy Solutions Inc. is set to invest US$150 million to develop a 100MW ground mounted solar power project in Nilaweli with its local partner 3W Power Management Limited.
American Clean Energy Solutions Inc. recently secured the energy permit approval clearance from Sri Lanka Sustainable Energy Authority (SEA).
Last August, Sri Lanka Broadcasting Corporation (SLBC) awarded the contract to 3W Power Management Ltd in Trincomalee to develop a solar farm.
The land was earlier used by Deutshe Welle (DW), which closed down its shortwave relay station in 2011 and was handed over to the SLBC.
3W Power Management Limited’s Head of Business Development Indika Kumara Weerakkody shared that US$ 40 million would be invested in a battery storage unit which will enable an uninterrupted power supply to the grid.
The project is expected to save approximately Rs.8 billion per annum to the Ceylon Electricity Board by replacing the high-cost thermal power.
The project was realised following one and half years of effort which included a six-month environment feasibility study. As the next step, the developer is in discussions with the CEB to enter into a power purchasing agreement.
Weerakkody noted that the Canadian investor has also expressed interest in investing in some of other power projects including waste-to-energy.
American Clean Energy Solutions Inc. is a privately held company engaged in waste-to-energy, solar farm park, and water business ventures
The SLBC recently awarded the Energy Permit Approval clearance letter received from Sri Lanka Sustainable Energy Authority (SES) to the Canadian Investor.
Regional Director of the American Clean Energy Solutions Inc., Mohamed Hussain received the award letter from SLBC Chairman. Hudson Samarasinghe in the presence of Minister of Transport, Highways and Mass Media Bandula Gunawardana; Secretary, Ministry of Mass Media; Anusha Pelpita, Chairman SEA, Eng. Ranjith Sepala, Director General of SLBC Nalin Kumara Nissanka and Director General J.M Athula.
Chief Guest Minister Bandula Gunawardana said that Sri Lanka should attract more foreign direct investments to come out from the present economic crisis.
He invited all investors to provide required support to develop the Renewable Energy drive of Sri Lanka and appreciated the efforts made by 3 W Power Management Limited Executive Director/Vice President Indika Kumara Weerakkody and Executive Director/General Manager Warnapriya Wijesundara.
The Minister said that it is essential to initiate new business opportunities to bring FDIs to Sri Lanka.
Nilaveli Solar project has been planned to develop on an unutilized land extent that belongs to SLBC and generate additional income to the SLBC.
Minister also pointed out the enormous benefits from this solar power project as it reduces the requirement of fossil fuels to generate electricity.
It was informed that the project will save approximately Rs. 8,000 million per annum to CEB by replacing the high-cost thermal power.
Vice President of the 3 W Power Management Limited Mr. Weerakkody appreciated the support received from all the government officials such as Kuchchaveli Divisional Secretary, CEB, SEA, CEA and especially SLBC during the initial approval process of the project.