The Sri Lankan government has approved the project for constructing 100 MW of floating solar power projects in Maduru Oya reservoir in Mahaweli Economic Zone.

The floating solar power project will be implemented by a joint venture with the Canadian Solar Institute. The government of Canada has proposed to implement this project with storage.

Early last week, Sri Lankan Cabinet approved the proposal to develop 28 small solar power projects in its north-central and eastern regions. The proposal was recently approved by the Cabinet of Ministers who gave consent to the development of 28 solar power projects from 28 investors in the island nation. The tariff for power generated from these projects has been set at LKR 12.84 (~$0.072) to LKR 15.93 (~$0.089)/kWh. The state power utility, Ceylon Electricity Board, will purchase the power from these solar projects.

Of late, Sri Lanka has seen a flurry of investments in its rapidly growing renewables sector.

In October 2018, Mercom reported that Ceylon Electricity Board, Sri Lanka will receive ₹2,529 million (~$34.41 million) from the French Agency for Development. This will be utilized by CEB to implement Tranche II of the green power development and energy efficiency improvement investment program.

Ceylon Electricity Board has an ambitious capital investment plan for the next ten years to maintain 100 percent electrification while improving supply quality and reliability.

Earlier, the Ministry of Finance and Mass Media in Sri Lanka announced that it has agreed with the Asian Development Bank wherein the bank will loan the country $50 million to help develop rooftop solar projects.

In June 2018, Japanese Sri Lanka Friendship Corporation, a board of investment company, announced to start manufacturing solar panels at Katunayake in Sri Lanka.

Sri Lanka wants to install 200 MW of solar projects by 2020 and 1,000 MW by 2025.

Image credit: Ocean Sun