Panasian Power commissions solar project worth Rs.420mn

Leading supplier of renewable energy to the national grid Panasian Power PLC recently commissioned a 3MW ground solar plant in Matara, worth a total investment of 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 for the project.

Panasian Power used the latest Trina bifacial solar panels, alongside the premier most bankable Sungrow inverter, for which it is the exclusive channel partner 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 Rs.420 million, 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 tonnes of CO2, which would otherwise be emitted using non-renewable energy sources or the CO2 sequestered by 72,000 trees.

Panasian Power Chairman Dr. Prathap Ramanujam 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 Power and Renewable Energy Ministry in collaboration with the Sri Lanka Sustainable Energy Authority and Ceylon Electricity Board, to promote the setting up of solar plants across the country.

Panasian Power PLC is committed towards maintaining and enhancing the economic, social and environmental sustainability of its operations. In line with this vision for a clean and sustainable future, the company engaged in a replanting scheme at its hydropower sites to offset any vegetation loss due to land clearance in Matara.

In addition, the organisation partnered with the National Apprentice and Industrial Training Authority in Hambantota to provide a first-of-its-kind on-the-job solar installation and maintenance training course for 10 trainees. The trainees were attached to the company’s solar plant site in Matara and will go on to work at Panasian Power’s Maho and Pannala sites.

In addition, Panasian Power was also able to create local employment opportunities for 20 personnel during the construction of the solar plant in Matara.

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 hydropower. The Matara solar plant will add further 3MW of ground solar to the company’s portfolio as it continues to expand its strength in solar energy.