Another three parties have also been given letters of intent to develop a further three sites of 10MW each, he said.
Wind power plants are given a three-tier tariff on a 15-year SPPA.
The rate is announced at the beginning of the year based on costs, to give a return on equity of 22 percent a year, Fernando said. Mini-hydro plants are also connected on a standardized contract on a tiered formula.
Sri Lanka to set up wind power plants in Northwest
Sri Lanka plans to set up two wind power plants in Puttalam in the northwestern region of the country.
Sri Lanka’s Board of Investment (BOI) recently granted approval to four companies for investments worth US $ 68 million to set up the plants.
According to a BOI press release two investment agreements worth US$ 37 million were signed with Vidatamunai Wind Power (Private) Limited and Seguwantivu Wind Power (Private) Limited. The companies will set up two wind power plants at Vidatamunai and Seguwantivu in Puttalam respectively.
The two wind power plants will supply 20 megawatts of power to the national grid. The ventures will utilise 13 and 12 wind turbines imported from Spain at Vidatamunai and Seguwantivu respectively. When the power plants are completed these will be the only wind power plants that are operational in Sri Lanka, BOI noted.