Panasian Power PLC commissions solar project worth Rs.420 million

Panasian Power PLC (PAP), a 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 Rs. 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, it said in a media release.

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 state-of-the-art aluminium structures were used to ensure the longevity of the project with screw piles reducing construction time.

With this investment, Panasian Power’s latest clean energy project is on track to earn up to Rs. 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.