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Sunday, September 20 2026
Sunday, September 20 2026
MONETABRIEF – Tenders called by the national power grid for 150MW/600MWh, giving an opportunity for existing solar power plants to set up battery energy storage systems (BESS) are set to close on September 24.
The National Systems Operator called limited competitive bids for existing holders of Power Purchase Agreements to set up BESS plants in the same or adjacent locations.
Existing operators have to submit bids up to 4 times the nominal rated power in their PPAs.
Due to fast rollout of solar energy, the grid operator asks solar plants to stop exporting energy to the grid on holidays when daytime demand is low.
Promoters have sought compensation from the power grid due to curtailment of energy export.
Solar plants that set up BESS units will be able to store the electricity during day time and supply in the night avoiding curtailment.
The limited competitive bid documents said the tender board reserved the right not to accept too expensive bids.
"The Cabinet Appointed Negotiation Committee (CANC) shall have the right, where necessary, to negotiate the proposed Tariff of substantially responsive, lowest cost evaluated Proposals to meet the aggregate procurement capacity of up to 150MW," the document said.
"Notwithstanding the above, the CANC shall have the sole discretion to reduce the aggregate capacity to be awarded below 150MW,AC, if it determines that the evaluated Tariffs are not reasonable, competitive, or in the best interest of the Procuring Entity."
Responsive bids will also be allowed a one-time tarrif adjustment up to 85 percent of the if the rupee collapses between the award and signing of the agreement.
Sri Lanka's rupee collapsed after March 2026 to 340 to the US dollar from 309 after depreciating from 292 to 309 over 2025 as the central bank dishonored its note issue, after inflationary rates cuts to raise the cost of living boosts credit and imports.
Critics have pointed out that there is no accountability for an act that drives up the cost of living, undermines democracy, destroys the value of the currency as a means of deferred payment, and which before the age-of-inflation drew capital punishment. (Colombo/Sept21/2026)
| 3 month bill | 9.22% | 22bp ▼ |
| 12-m bill | 9.91% | 10bp ▼ |
| Gold (Ounce) | $4602 | - - |
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