Cabinet approval has been granted to sign an agreement between South Korea and Sri Lanka on the pilot project to install floating Solar Panel Power Plants on the surface of the Kiriibban Wewa reservoir and Chandrika Wewa reservoir in the Ratnapura District.
According to the government, the Minister of Trade, Industry and Energy of the Republic of Korea has agreed to provide a grant amounting to 6.83 Billion Korean Won for the implementation of the pilot project.
The grant provided under the Framework Convention on Grant Aid signed between the Republic of Korea and Sri Lanka in 2009, will see the installation of a floating solar panel power plant with a 1 MW capacity on the surface of reservoirs.
The Korea Institute for Advancement of Technology is acting as the monitoring agency for the pilot project on behalf of the Korean government, the government stated.
Accordingly, the Cabinet has approved the proposal presented by the Minister of Power and Energy to sign the discussion paper between the Korea Institute for Advancement of Technology, the Ministry of Power and Energy and the Department of External Resources to start and implement this pilot project according to the agreement reached. (NewsWire)
