First Energy Partners With LVL Energy Fund on Seven Solar Power Plants

First Energy has partnered with LVL Energy Fund PLC, a subsidiary of Lanka Ventures, to develop seven new solar power plants across Sri Lanka. Together the plants will add a combined 7 MW of clean energy to the national grid.

The projects respond to a Ceylon Electricity Board tender for 1 MW scale solar plants and mark LVL Energy Fund's first step into solar, alongside its existing hydro, wind and thermal investments. The total investment is estimated at Rs. 1.2 billion.

Four locations, one portfolio

• Maho: 3 MW
• Pallekele: 2 MW
• Mathugama: 1 MW
• Embilipitiya: 1 MW

Each plant connects to a nearby grid substation and is developed on a Build, Own and Operate (BOO) basis under a 20 year power purchase agreement. Implementation was expected to take around six months once all approvals were in place.

LVL Energy Fund CEO Sumith Arangala described solar as the energy resource of the future and welcomed the chance to help shift Sri Lanka away from fossil fuels towards cleaner, renewable generation.

For First Energy, the partnership is a vote of confidence in our engineering and project delivery capability on utility scale, ground mounted solar.

Source: Daily FT, 30 October 2018