Panasian Power subsidiaries secure CEB tenders for ground mounted solar projects

Panasian Power PLC said four of its fully-owned subsidiaries have clinched tenders from the Ceylon Electricity Board (CEB) for six ground-mounted solar PV projects with a combined capacity of 30MW/40MWDC.

The company said the favourable tariff accompanying these awards not only signifies a major achievement for Panasian Power but also positions it for a potential doubling of its current capacity upon successful project completion.

A stock market filing by Panasian Power said the four subsidiaries participated in the said CEB solar PV tenders floated on 14 March 2023 and on 10 November 2023 these subsidiaries secured awards for 5MW x 6 Nos ground-mounted solar PV projects.

These projects are strategically located in Galle, Anuradhapura, Ampara, Kurunegala, Maho, and Matara Grid Substations.

Anticipated to enter into Power Purchase Agreements (PPA) with the CEB by mid2024, these projects are poised to play a pivotal role in advancing both the national energy targets and emission reduction goals.