HomeRenewable energy ›NTPC-CEB JV Finalises Tariff at 5.97 US Cents Per Unit for 50 MW Solar Project in Sri Lanka

NTPC-CEB JV Finalises Tariff at 5.97 US Cents Per Unit for 50 MW Solar Project in Sri Lanka

Trincomalee Power Company Ltd., a JV between NTPC and Sri Lanka’s Ceylon Electricity Board, has finalised a tariff of 5.97 US cents per unit for its 50 MW solar project in Sampoor, Trincomalee, Sri Lanka.

January 22, 2025. By Mrinmoy Dey

Trincomalee Power Company Ltd., a 50:50 JV company between India’s NTPC and Sri Lanka’s Ceylon Electricity Board, has finalised the tariff for its 50 MW solar power project which is being developed in Sampoor, Trincomalee, Sri Lanka.

The tariff for the project, which is expandable to 120 MW, has been finalised at 5.97 US cents per unit following extensive discussions with Sri Lankan stakeholders. The tariff was confirmed by Sri Lankan President Anura Kumara Dissanayake during a public meeting.

This initiative aims to diversify Sri Lanka's energy portfolio by significantly increasing its clean energy capacity and reducing reliance on fossil fuels.

NTPC is expanding its international investments in the energy sector, focusing on renewable energy projects such as solar, wind, and hybrid power. "The Sampoor project aligns with our vision of becoming the world’s leading power company and underscores our commitment to advancing sustainable energy solutions in key global markets," the company stated.

The Sri Lankan President last month met with Indian Prime Minister Narendra Modi to discuss ways to strengthen bilateral ties in several key areas including political exchanges, development cooperation, training and capacity building, energy development, education and technology.

Emphasising the need for reliable, affordable and timely energy resources for ensuring energy security and meeting basic needs of the people, both leaders underscored the importance of strengthening cooperation in the energy sector and facilitation towards timely implementation of ongoing energy cooperation projects between India and Sri Lanka.

Both the leaders agreed to take steps towards the implementation of the solar power project in Sampur and further augment its capacity as per the requirements of Sri Lanka.

Further, they also agreed to continue consideration of the several proposals which are in different stages of discussion including supply of LNG from India to Sri Lanka and cooperation amongst India, Sri Lanka and UAE to implement a multi-product pipeline from India to Sri Lanka for supply of affordable and reliable energy.

They also discussed about the establishment of a high-capacity power grid interconnection between India and Sri Lanka. The two leaders also discussed joint development of offshore wind power potential in Palk Straits, while prioritising environmental protection including fauna and flora.
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