Savings of over Rs. 273 million annually from purchasing solar power at the lowest prices, Minister claims

(COLOMBO, LANKAPUVATH) – Mahinda Amaraweera, Minister of Power and Energy says that the government has approved the purchase of 150 megawatts of solar power as renewable energy for the third quarter of this year.

Addressing a progress review meeting held yesterday (29) at the Ministry, Minister Amaraweera said the solar power electricity is purchased at the lowest possible prices and due to competitive bidding it’s a saving of Rs. 10 per unit.

According to the Minister, the reason for this is that the companies that have offered to provide a unit below Rs. 10 are taking steps to purchase electricity.

He explained that by purchasing the solar electricity at a unit cost of less than Rs. 10 savings will amount to Rs. 750,000 per day or Rs. 273.7 million annually.

Another 150 megawatts of solar power is to be purchased for the fourth quarter of this year, which will save the Ceylon Electricity Board Rs. 547.4 million by the end of this year, the Minister added.

The Minister said that the savings would be more productive under the government’s plan to turn the loss-making Ceylon Electricity Board into a profitable one by 2023.

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