Cabinet approval has been granted to accept the proposal presented by United Solar Energy SL Pvt Company with regard to the development of a 700 MW Solar Energy/Battery Storage at Poonakary Lake in Kilinochchi.
The government stated that Cabinet approval was received earlier 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 Sri Lanka.
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 Poonakary Lake to prevent the ingress of seawater at a cost of 13.5 million, a part of the proposed project.
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 has approved the proposal presented by the Minister of Power and Energy to accept the project proposal presented by United Solar Energy SL Pvt Company in principle and to appoint a cabinet appointed negotiation committee to evaluate the proposal and make recommendations. (NewsWire)
