The Cabinet of Ministers has approved revising the tariff rates paid for New Rooftop Solar and Renewable Energy projects through the feed-in tariff (FIT) system, Minister of Power & Energy Kanchana Wijesekera announced.
Taking to ‘X’, Minister Wijesekera said a formula was adopted in 2022 taking into consideration the USD rate, interest rates and other economic factors to revise the tariff rates and increase the rates paid for Rooftop Solar development and the feed-in tariff (FIT) system for other Renewable Energy development of less than 10MW.
The Cabinet of Ministers on Monday approved the proposal by the Ministry of Power & Energy based on the stakeholder consultations and tariff committee report to revise the rates utilizing the same formula with the current economic indicators and benchmarking on rates received on competitive bidding and negotiated tariff projects for the Ceylon Electricity Board (CEB) in 2024.
Accordingly, the revised tariff rates for Rooftop Solar Development and Renewable Energy feed-in tariff will be applied to all new projects from July 01, 2024.
According to Minister Kanchana Wijesekera, the revised tariff rates are as follows;
- Revised Rooftop Tariff – 20 Years flat rate
Up to 500kW -Rs 27.06
Over 500kW – Rs 23.18
- Revised feed-in tariff – 20 years flat rate
Solar – Rs 25.48
Mini Hydro – Rs 30.53
Wind – Rs 29.86
Bio Mass – Rs 52.77 (Newswire)
