- Sri Lanka aims to source 20% of its total power generation from renewable sources like solar by 2020. - However, grid modernization delays have limited the amount of variable solar power that can connect to the national grid without batteries. - There are two remaining 10MW solar project licenses available in Sri Lanka, each on 45 acres of land, that do not require battery storage. These represent the last licenses of their kind.

1. • Sri Lanka has prioritized the implementation of
renewable energy projects in Sri Lanka.
• Policy initiatives has put in place a minimum target
of 20% of total power generation to be sourced from
renewable sources by the year 2020.
• However, the lack of a smart grid and the delays in
grid modernization has limited the amount of nondispatchable power allowed onto on-grid power
generation systems .
• Currently, 20 MW of licenses are available in two
licenses of 10 MW each. These two licenses fulfill the
solar power limit allowed onto the main grid in Sri
Lanka.
• These licenses will be the only and last licenses that
will allow solar power generation for on-grid
application without the requirement of battery
storage for supply smoothening and peak load
demand balancing.

3. Project Location

4. Project Location

5. PROJECT DETAILS
Name of Project
Project number 1
Iris Buruthakanda solar project
Project number 2
Anorchi Lanka Buruthakanda solar Project
Name of owning Iris Eco Power Lanka (Pvt) Ltd
company
Anorchi Lanka (Pvt) Ltd
Location of
project
Acquisition
Price
Seller’s
undertakings
Buruthakanda, Hambantota
Buruthakanda, Hambantota
USD 4.0 Million
USD 4.0 Million
Project will be delivered to investor on “Plug-and-Play”
basis. All necessary and required approvals, permits and
licences including land will be completed on delivery of
project
Investor is required to place the entire sum of the
acquisition price in Escrow with an International bank in
Colombo. Currently we operate Escrow accounts with
Deutsche Bank AG.
Escrow property will be released to the seller and
consultant respectively only upon the fulfilment of all
the escrow rules. (i.e. the delivery of project with all
required approvals, permits and licences including land)
The escrow account shall be an interest earning account
so that in the unlikely event that the seller/consultant is
unable to deliver all requirements, the investor will have
the benefit of accrued interest together with the return
of the capital sum.
Acquire 100% of the shares in the project owning
company
Project will be delivered to investor on “Plug-and-Play”
basis. All necessary and required approvals, permits and
licences including land will be completed on delivery of
project
Investor is required to place the entire sum of the
acquisition price in Escrow with an International bank in
Colombo. Currently we operate Escrow accounts with
Deutsche Bank AG.
Escrow property will be released to the seller and
consultant respectively only upon the fulfilment of all
the escrow rules. (i.e. the delivery of project with all
required approvals, permits and licences including land)
The escrow account shall be an interest earning account
so that in the unlikely event that the seller/consultant is
unable to deliver all requirements, the investor will have
the benefit of accrued interest together with the return
of the capital sum.
Acquire 100% of the shares in the project owning
company
Payment Terms
Method of
Acquisition of
project

6. 2 PV Solar Power Projects
10MW each
45 Acres each allocated for the projects
Can be purchased with all approvals
Two Solar Power Projects
available for investment
• The
2 projects are the last two available licenses for solar in Sri Lanka
• Both Licenses are for solar generation without battery backup. This
type of license will never be issued in Sri Lanka in the future