New Delhi: State-owned NTPC on Tuesday said it is setting up a 50 MW solar project in Sri Lanka in a joint venture (JV) with Ceylon Electricity Board.
The project by the 50:50 JV named Trincomalee Power Company Limited (TPCL) is being set up at Sampoor in Trincomalee in the neighbouring island nation.
The tariff for the 50 MW, extendable to 120 MW, has also been finalized after rounds of deliberations with various stakeholders in Sri Lanka, NTPC said. It has been set at 5.97 US cents per unit.
This solar project will help diversify Sri Lanka's energy mix with a significant boost to the country's clean energy capacity and reduce dependence on fossil fuels. NTPC, under the Ministry of Power is India's largest power generation company.
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