Sri Lanka puts in place competitive pricing for medium scale solar

Feb 13, 2017 (LBO) – Sri Lanka’s Power Ministry has decided to put in place a competitive pricing mechanism for medium scale solar power generation companies commencing later this week, the minister said.

“This is a turning point in the pricing system and the consumers will be the beneficiaries,” Ranjith Siyambalapitiya, minister of power and renewable energy said.

“I believe that this can lead to the reduction in the peoples power bills later on.”

He was speaking at the opening of a project office for a 20 megawatt wind power plant to be commissioned in 2018 in the island’s North.

The minister says the government focus is to increase renewable energy capacity and extended an invitation to all medium scale power suppliers to join other independent power plants and make future bids.

Competitive tenders have already brought down the cost of wind power from close to 20 rupees.

“We are now able to price wind power at 12.29 rupees,” Siyambalapitiya said.