Panasian Power PLC Commissions Solar Project Worth 420Mn
Colombo, Sri Lanka : Panasian Power PLC (PAP), a dynamic Sri Lankan renewable energy solutions organisation and a leading supplier of renewable energy to the national grid recently commissioned a 3 MW ground solar plant in Matara, worth a total investment of LKR 420 million.
Panasian Power is the equity investor and led all aspects of the construction including in-house engineering, design, site acquisition, acquiring permissions, simulation and procurement. Panasian Power also took the lead in securing power purchase agreements (PPA) for the project.
PAP used the latest Trina bifacial solar panels, alongside the premier most bankable inverter, Sungrow, for which they are the exclusive channel partners in Sri Lanka. Further, the balance of system used state-of-the-art aluminium structures to ensure the longevity of the project with screw piles reducing construction time.
With a total investment of LKR 420 million, Panasian Power’s latest clean energy project is on track to earn up to LKR 90 million in revenue annually for the company.
The solar plant will generate 6,150,000 kWh of green electricity per year, saving the equivalent of 5,100 metric tons of CO2 which would otherwise be emitted using non renewable energy sources or the CO2 sequestered by 72,000 trees.
Dr. Prathap Ramanujam, Chairman, Panasian Power said, “Clean energy solutions have transformed the energy sector, becoming a mainstream source of energy by offering large scale contributions to the grid. As a leading renewable energy organisation, Panasian Power is pleased to be at the forefront of this transformation with several key solar power projects lined up both in Sri Lanka and abroad.”
The project is commissioned under the Sooraya Bala Sangramaya Phase II, launched by the Ministry of Power and Renewable Energy in collaboration with Sri Lanka Sustainable Energy Authority (SLSEA) and Ceylon Electricity Board (CEB) to promote the setting up of solar plants across the country.
Panasian Power PLC is committed towards maintaining and enhancing the economic, social and environmental sustainability of its operations. In line with this vision for a clean and sustainable future, the company engaged in a replanting scheme at its hydro power sites to offset any vegetation loss due to land clearance in Matara.
In addition, the organisation partnered with the National Apprentice and Industrial Training Authority (NAITA) in Hambantota to provide a first-of-its-kind on the job solar installation and maintenance training course for 10 trainees. The trainees were attached to the company’s solar plant site in Matara and will go on to work at PAP’s Maho and Pannala sites. In addition, PAP was also able to create local employment opportunities for 20 personnel during construction of the solar plant in Matara.
Panasian Power currently has a series of high-performing solar power projects in its portfolio totalling 6MW and a total generation capacity of over 14MW, including hydro power. The Matara solar plant will add a further 3MW of ground solar to the company’s portfolio as it continues to expand its strength in solar energy.
About Panasian Power PLC (PAP)
Panasian Power PLC is one of Sri Lanka’s leading suppliers of clean, renewable energy to the country’s national energy grid. Established with support from the Board of Investment in 2002, PAP has been at the forefront of a pioneering effort to transform the island’s energy generation mix onto a path of affordable, sustainable, and reliable energy for all Sri Lankans, through the efficient operation of its three Mini-Hydro Power Plants. Panasian Power’s combined expertise has enabled the organization to surge ahead in the hydro-power sector and today stands ever closer to its target of 30 MW of generation capacity by 2022.
For more information on Panasian Power PLC visit their website on www.panasianpower.com
