Sri Lanka’s Panasian Power PLC has successfully completed the construction of a cutting-edge 5-MW solar power plant in Matara, Southern Province, which notably features an advanced single-axis sun-tracking system to maximize energy generation.
Panasian Power Completes a 5-MW Sri Lanka solar plant
In a significant step for Sri Lanka’s renewable energy sector, developer Panasian Power PLC has finished construction on a 5-MW ground-mounted solar power plant in Matara. The facility, which was officially connected to the national grid on July 14, represents the company’s third 5-MW solar installation and is poised to begin commercial operations shortly.
The plant’s design incorporates state-of-the-art technology to boost efficiency. It features a single-axis sun-tracking system that adjusts the panels’ orientation throughout the day to follow the sun’s path, optimizing light absorption. Furthermore, the project utilizes bi-facial N-type solar panels, which are capable of capturing sunlight from both sides of the panel, significantly increasing the total energy output. The intricate solar panel manufacturing process allows for such advanced designs.
This new facility is connected to the grid via a 33-kV line and will operate under a 20-year power purchase agreement (PPA) with the state-owned Ceylon Electricity Board (CEB).
Panasian Power’s Solar and Hydro Projects in Sri Lanka
The new Matara plant adds to Panasian Power’s growing solar portfolio in Sri Lanka, which already includes several ground-mounted projects, such as a 3.3-MW plant in Matara, a 1-MW plant in Puttalam, and a 1-MW plant in Matale. The company has also demonstrated its versatility by developing rooftop solar installations, including a 1-MW project in Horana and a 0.5-MW project in Mahiyanganaya. You can follow more developments in our Sri Lanka Solar News archives.
Beyond solar, Panasian Power maintains a strong presence in hydropower, operating the 2.4-MW Rathganga and 2-MW Manelwala facilities in Sri Lanka. The company is also expanding its reach internationally with an 8.3-MW run-of-river hydropower project currently under development in Nepal.
Listed on the Colombo Stock Exchange and a subsidiary of Malaysia’s PowerHub International Sdn Bhd, Panasian Power PLC continues to be a key player in Sri Lanka’s energy transition, leveraging its expertise in hydropower to strategically expand into solar generation.
Investment and Future Plans for Sri Lanka solar plant
Panasian Power invested approximately LKR 1.2 billion (USD 3.3 million) into the new Matara solar plant, a figure that reflects a typical solar panel manufacturing plant cost breakdown at this scale. The project was financed through a combination of funding from Hatton National Bank (HNB) and the company’s own resources.
This project is a cornerstone of Panasian Power’s strategy to broaden its renewable energy footprint, which also includes plans for developing the largest private sector wind power plant in Sri Lanka. The completion of the Matara solar project brings the company’s total installed capacity to 20.3 MW.
Looking ahead, Panasian Power aims to increase its total renewable energy capacity to 50 MW in the coming years. This ambition aligns with the nation’s broader push for energy independence, as seen in other large-scale initiatives like the 50 MW breakthrough project in Monaragala and recent Sri Lanka solar bids for even larger capacities. This commitment reinforces the company’s role in driving sustainable energy development and enhancing solar power in Sri Lanka.
If you are interested in understanding the complexities of bringing such projects to life, from initial concept to a fully operational solar farm, consider enrolling in our free e-course on solar energy.
