India, Sri Lanka ink deal for 100MW solar power project in Sampur

The agreement was signed for the JV between NTPC Limited and Ceylon Electricity Board.

India and Sri Lanka have signed a joint venture agreement for the development of a 100-megawatt Solar Power Plant at Sampur in Sri Lanka.

In a statement, the High Commission of India to Sri Lanka said the Joint Venture and Shareholders’ Agreement (SJVHA) for the Trincomalee Power Company Limited, a joint venture between the National Thermal Power Corporation Limited from India and the Ceylon Electricity Board, was signed at Sri Lanka’s Ministry of Finance. 

“Signing of this JVSHA demonstrates yet again, India’s ability to respond to Sri Lanka’s priorities in a comprehensive and mutually beneficial manner. We will continue to encourage and facilitate the expedited and effective implementation of this project,” India’s High Commission said.

“India is committed to expanding the role of renewable energy and helping build cleaner, greener and climate resilient societies,” it added.

The High Commission also said that India’s cooperation with Sri Lanka will be strengthened by the implantation of the $100m Line of Credit the country offered to Sri Lanka for solar power projects development.

It added that there is “significant interest” amongst the private sector from both sides for cooperation on renewable energy which “is likely to increase in the coming years.”