Mahindra Susten to Develop 150 MW Open Access Renewable Power Project

BJP, Congress Bet Big on Renewables in 2024 Election Manifestos

Daily News Wrap-Up: REIL Invites Bids for 200,000 Mono PERC Solar Cells

Solar, Storage, Wind Drive 95% of US Interconnection Queues as Backlog Rises

Ahasolar Wins Consultancy Contract for 52 MW Solar Project from BPCL

REIL Invites Bids for 200,000 Mono PERC Solar Cells

Daily News Wrap-Up: MNRE Adds 4.1 GW of New Solar Module Capacity to ALMM

MNRE Adds 4.1 GW of New Solar Module Capacity to ALMM

AutoNxt Secures Pre-Series A Funding to Finance Electric Tractor Launch

Daily News Wrap-Up: REC Records Highest-Ever Loan Approvals in FY24

<p>KLS Energy Lanka, a subsidiary of Malaysian renewable energy producer, Energy Sdn Bhd has filed an arbitration against the Sri Lankan government.</p>
<p>The arbitration under BIT Malaysia – Sri Lanka 1982 was filed over the cancellation of a $150 million wind-solar hybrid power project by the Sri Lankan government.</p>
<p>The request for arbitration was accepted by the Acting Secretary-General of International Centre for Settlement of Investment Disputes (<a href="https://icsid.worldbank.org/en/" target="_blank" rel="noopener">ICSID</a>).</p>
<p>The Ministry of Power and Renewable Energy of Sri Lanka is the respondent in the case.</p>
<p>Earlier, the Ceylon Electricity Board (CEB) had approved the project to build the hybrid power project in Jaffna in 2008 and signed a 20-year power purchase agreement (PPA) with KLS Energy Lanka.</p>
<p>According to Colombo Gazette, Sri Lankan government has alleged that KLS Energy Lanka has not honored its investment commitment in the project and cancelled it in 2016.</p>
<p>Whereas KLS Energy Lanka has claimed that it had already invested $22 million and blamed the government for delays.</p>
<p><a href="https://mercomindia.com/sri-lankas-smart-grid-project-to-get-34-million-france/" target="_blank" rel="noopener">Recently,</a> Mercom reported that Ceylon Electricity Board (CEB), <a href="http://www.treasury.gov.lk/" target="_blank" rel="noopener">Sri Lanka</a> will receive ₹2,529 million (~$34.41 million) from the French Agency for Development (AFD). This will be utilized by CEB to implement Tranche II of the green power development and energy efficiency improvement investment program.</p>
<p>Ceylon Electricity Board has an ambitious capital investment plan for the next 10 years to maintain 100 percent electrification, while improving supply quality and reliability.</p>
<p><a href="https://mercomindia.com/sri-lanka-50-million-db-rooftop-solar/" target="_blank" rel="noopener">Earlier</a>, the Ministry of Finance and Mass Media in Sri Lanka announced that it has entered into an agreement with the Asian Development Bank (ADB) wherein the bank will loan the country $50 million to help develop rooftop solar projects.</p>
<p><a href="https://mercomindia.com/japanese-company-sri-lanka-first-solar-manufacture-unit/" target="_blank" rel="noopener">In June 2018</a>, Japanese Sri Lanka Friendship (JSF) Corporation, a board of investment company, announced to start manufacturing solar panels at Katunayake in Sri Lanka.</p>
<p>Image Credit: Flickr</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nitin/" class="vcard author" rel="author"><span class="fn">Nitin Kabeer</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft wp-image-9822" src="https://mercomindia.com/wp-content/uploads/2018/04/nitin-2.png" alt="" width="99" height="105" /><span style="font-family: Calibri"><span style="color: #000000"><span>Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism &amp; Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. <a href="https://mercomindia.com/author/nitin/">More articles from Nitin Kabeer</a></span></span></span></p>
</div></div><div class="clearfix"></div></div></div>

Sri Lanka Faces Arbitration Case Over Cancellation of Wind-Solar Hybrid Power Project

icsid

Get the most relevant India solar and clean energy news.

RECENT POSTS