India and Sri Lanka have signed an agreement for developing a 100 megawatt solar power plant in the eastern port district Trincomalee, Sri Lanka, as part of the efforts to strengthen bilateral economic partnership, including through cooperation in the renewable energy sector.
The signing ceremony took place on Friday at the Ministry of Finance of Sri Lanka for the plant in the country’s Eastern area. The Joint endeavor and Shareholders’ Agreement (JVSHA) for the Trincomalee Power Company Limited (TPCL) — a joint venture between National Thermal Power Corporation (NTPC) Limited from India and the Ceylon Electricity Board (CEB) for fostering the 100 megawatt solar power plant at Sampur — has been signed, the Indian mission said in a statement.
High Commissioner was delighted to attend the signing of the JVSHA between @ntpclimited & @CEB_lk today for the joint development of a solar power plant at Sampur. The presence of 4 Ministers of 🇱🇰 including Hon'ble @RealBRajapaksa and Hon'ble @PavithraWannia1 attests pic.twitter.com/nW8izFYBm7
— India in Sri Lanka (@IndiainSL) March 11, 2022
Signing of this JVSHA demonstrates yet again India’s ability to respond to Sri Lanka’s priorities in a comprehensive and mutually beneficial manner, it said.
Our cooperation with Sri Lanka in this space will just become more grounded with the execution of the USD 100 million Line of Credit presented by India to Sri Lanka for development of solar power projects. Similarly, there is significant interest among the private sector on both sides for cooperation in renewable energy which is likely to increase in the coming years, the statement added.
A 2013 agreement with NTPC to build a thermal power plant in Sampur was later abandoned. Sri Lanka is confronting its unsurpassed most exceedingly terrible unfamiliar trade emergency after the pandemic hit the country’s income from the travel industry and remittances.
By December, the reserves position had dove to only one month’s imports or somewhat more than $1 billion. Sri Lanka is confronting its unequaled most horrendously horrible unfamiliar trade emergency after the pandemic hit the country’s income from the travel industry and remittances.
As of late, the general population has encountered a deficiency of numerous fundamentals because of the unfamiliar trade emergency. Import limitations to save dollars have compromised cooking gas and fuel supplies notwithstanding the approaching power cuts.