Panasian Power commissions solar power project worth Rs. 420Mn

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.

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 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.