15 June 2023 11:43 am Views - 1359
The Power and Energy Ministry has introduced a 20-year variable feeding tariff scheme from June 13 for new renewable energy developments up to 10 MW.
Power and Energy Minister Kanchana Wijesekara said in a Twitter post that the new tariffs are only applicable to new power purchasing agreements (PPA).
"Developers will have the option to pick either the fixed tariff or the variable tariff at the signing of the PPA and will not be able to switch after signing," he said.
The Minister said rates paid for every PPA signed on the variable tariff scheme will be varied every 3-6 months over the 20 years while factoring the interest rates and other parameters to calculate the formula. Rates made available at the signing of fixed tariff PPAs will remain fixed for the full 20 years," he said. (Ajith Siriwardana)