Sri Lanka is set to sign a power purchase agreement (PPA) for a US$1.7 billion solar plant with battery storage. The 700MW plant will be built on the Poonakary Tank in Kilinochchi District and will have a 1,500MWh battery storage system. The project is expected to create jobs and help the environment.
1.The Plant:
Capacity: 700 Megawatts (MW) of solar power
Uniqueness:
Located on the surface of the Poonakary Tank, a first-of-its-kind project.
Equipped with a massive 1,500 MWh battery storage system.
2. Investment and Benefits:
Investor: United Solar Group of Australia
Investment: US$1.727 billion
Significance:
Largest foreign direct investment in Sri Lanka’s history.
Boosts renewable energy sector and contributes to economic growth.
Additional benefits:
Saves 750,000 tons of CO2 emissions annually (approximately 4% of Sri Lanka’s total).
Provides irrigation water to over 100 acres of agricultural land.
Rehabilitation of the Poonakary Tank, enhancing its storage capacity.
Potential to export power to India.
3. Importance of Battery Storage:
Addresses the variability of solar power.
Allows for consistent and stable power supply to the grid.
Reduces the risk of grid failures and instability.
Enables storing excess energy for use during peak hours.
Makes solar power more comparable to coal, fuel, and large hydro systems with storage.
This project represents a significant step forward in Sri Lanka’s transition to renewable energy. The combination of solar power and battery storage offers a reliable, sustainable, and environmentally friendly solution for the country’s energy needs.
