The project will operate on a Build, Own and Operate (BOO) basis for a 20-year period, with the CEB agreeing to purchase electricity at a higher price that could lead to significant financial losses, several senior engineers of the board alleged.
A senior official from the Ministry of Power and Energy noted that the Cabinet-appointed negotiating and technical evaluation committees had taken into account the realistically achievable energy output to ensure cost recovery, as overly optimistic projections could lead to artificially lower tariff
The Cabinet of Ministers, upon the proposal by the Minister of Power and Energy, approved the project to be awarded to Solar Forge Batticaloa.