Sri Lanka’s renewable energy sector is set for a positive jolt with the announcement of a significant new solar power project in Batticaloa. Suryashakthi Ltd., a subsidiary of Solar Universe Ltd., has signed a Power Purchase Agreement to develop the 10MW Vavunathivu II Solar Power Project, bringing much-needed clean energy and economic investment to the Eastern Province.
Suryashakthi Ltd. is a joint venture spearheaded by three key players in Sri Lanka’s energy landscape: Vidullanka PLC, a prominent renewable energy company; WindForce PLC, a firm with experience in renewable energy projects across multiple countries; and HiEnergy Services Ltd., a provider of expertise in the energy sector. This collaboration signifies a strong commitment to advancing Sri Lanka’s renewable energy goals.
The Vavunathivu II Solar Power Project is expected to be a game-changer, attracting an investment of approximately Rs. 2.2 billion. This substantial investment will not only contribute to Sri Lanka’s energy security by generating clean and sustainable power, but it will also create employment opportunities in the Batticaloa region during the construction and operation phases of the project.
The project aligns with Sri Lanka’s growing focus on renewable energy sources. With a national target of transitioning the country’s electricity supply to 70% renewable energy by 2030, the Vavunathivu II Solar Power Project serves as a crucial stepping stone.
This venture is particularly noteworthy due to its location in Batticaloa. The Eastern Province has immense potential for solar power generation, and this project paves the way for further development in the region.
Residents of Batticaloa can expect to benefit from a more stable and eco-friendly power supply, while the project itself serves as a model for future renewable energy initiatives in the area. Businesses in the region may also see a positive impact due to a more reliable power grid.
The Vavunathivu II Solar Power Project signifies a promising step forward for Sri Lanka’s energy future. By harnessing clean solar power and fostering collaboration between established companies, this project offers a bright outlook for Batticaloa and the nation as a whole.