The Blue Circle Pte. Ltd., based in Singapore, has formed a partnership with WindForce PLC and Lakdhanavi Ltd. to establish a 100 MW Solar Power Plant in Siyambalanduwa. The total investment for this project amounts to USD 152 million. The Company was awarded this project on 16 August 2023, as per a disclosure made on the Stock Exchange.
What makes this project unique is the incorporation of a 12MWh Battery Energy Storage System (BESS) within the solar plant itself. This development is significant for Sri Lanka as it introduces advanced energy storage technology to the country’s renewable energy sector for the first time.
Moreover, the Siyambalanduwa project includes the necessary infrastructure, such as a 2×63.5MVA, 132/33kV Grid Substation and a comprehensive 27km, 132/33kV Transmission line. This integrated approach ensures efficient distribution of renewable energy throughout the region, maximizing its accessibility and benefits for consumers.
Another noteworthy aspect of this project is the adoption of a dollar-pegged tariff structure. This approach guarantees that the consortium will receive a fair and sustainable return on their investments, while also providing consumers with a competitive and reliable electricity tariff.