BUSINESS PLAN
50MW GROUND MOUNT SOLAR PV PROJECT
PROJECT PROMOTER:
RAVANA ENERGY SYSTEMS (Pvt) Ltd
The information contained in this business plan is confidential and property of Ravana Energy
Systems (Pvt) Limited and is intended only for the persons to whom it is transmitted by the
Company or its representatives. Any reproduction of this document, in whole or in part, or the
divulgence of any of its contents without the prior written consent of the Company, is
prohibited.
July 2023
THE PROJECT
Sites & Project Locations
The Promoter has allocated required lands for the project and 05 Nos of 10 MW sites have been
reserved with Provisional approval (PA) granted for all the sites. Nearest Grid connection is less
than 5 KMs to all sites.
Site Descriptions are as follows.
No Location Provisional Capacity Remarks
Approval
No.
01 Vakaneri,Batticaloa 1 PA-237640 10 MW Provisional Approval offered, and
Grid concurrence requested
02 Vakaneri, Batticaloa 2 PA-237660 10 MW Provisional Approval offered, and
Grid concurrence requested
03 Selvanagar-Pesalai -A PA- 237720 10 MW Provisional Approval offered, and
Grid pending
04 Selvanagar-Pesalai -B PA-237730 10 MW Provisional Approval offered, and
Grid pending
05 Pudukkulama-Vavuniya PA-237770 10 MW Provisional Approval offered, and
Grid concurrence requested
Transfer of Rights of 100% shares of the companies:
USD 55,000/- Per MW with prevailing approvals (Total – USD 2,750,000/- for 50 MW)
Presently, we have got Approval from Sustainable Energy Authority (SEA) to proceed up
to Energy Permit Level for three sites having PA numbers 237640, 237660 and 237720, other
two sites will be available by End August 2023.
SEA already sent the grid request from Ceylon Electricity Board (CEB), and it shall be
available by first week of August 2023
The above mentioned share purchase price includes the following
Land acquisition on outright basis (purchase from land owners)
All costs of getting Environment approval and statutory payments
Statutory payments for other approvals such as Energy Permit, PPA etc
100% shares transfer.
The investor shall make payments to purchase lands and those lands shall be transferred to
the Investor company.
An advance payment of USD 100,000/- shall be paid to developer (Ravana Energy) to take
all other approvals and make statutory payments.
Upon the above advance payments, the Investor will be having 10% of shares of all three
companies
The final payment, after deducting the advance payment, shall be paid at the time of
signing PPA with CEB.
APPROVED TARIFF:
Three Tier Tariff published by CEB
Variable Tariff published by CEB:
FUTURE DEVELOPMENTS:
ANTICIPATED COSTS FOR 50 MW (FOR REMAINING APPROVALS.)
No Job Description Cost LKR Cost USD Remarks
Million
01 Obtaining Central Environmental 15.00 42,000.00
Authority Clearances (CEA)
02 Obtaining Energy Permit 25.00 69,000.00
03 Payments for Public Utilities 5.00 13,900.00
Commission of Sri Lanka (PUCSL)
04 Obtaining Power Purchase 1.25 3425.00
Agreement from Ceylon Electricity
Board (CEB)
05 Local Authority approvals and 10.00 27,397.00
Contingencies
Sub total 56.25 154,110.00
06 VAT – 15% 8.44 23,123.00
Total 64.69 177,233.00
*The above costs are statutory payments to be made for obtaining relevant approvals. Once, the share transfer done
with the full payment, these approvals are processed.
TOTAL DEVELOPMENT COST OF THE PROJECT:
USD 35,000,000/- BASED ON USD 750,000/- PER MW
THIS FIGURE CAN BE DETERMINED BY THE INVESTOR.
Eng.Nandana Ranaweera (Chartered Engineer)
Director
Ravana Energy Systems (Pvt) Limited.
