WindForce-CEB sign SPPA for 5MW floating solar venture

WindForce PLC yesterday announced the signing of a Standard Power Purchase Agreement (SPPA) with the Ceylon Electricity Board (CEB) for one of the country’s most ambitious floating solar ventures to date.
The agreement, executed on November 27, through its fully-owned subsidiary Diya Janani (Pvt.) Ltd, clears the path for a 6.5MWdc/5MWac floating solar project on the Dambuluoya Reservoir.
With an estimated project cost of Rs.1.176 billion, financed under an 80:20 debt-to-equity structure, the development is a significant scale-up in private-sector participation in floating solar technology, a space-efficient solution increasingly adopted worldwide to circumvent the land constraints.