Shardul Amarchand Mangaldas & Co. advises NTPC Limited on 50 MW solar project in Sri Lanka valued at USD 100 million

April 22, 2025

Shardul Amarchand Mangaldas & Co. advised NTPC Limited in relation to a power purchase agreement and implementation agreement for a 50 MW solar power plant at Sri Lanka. The deal was signed on 5 April 2025 and is valued at USD 100 million.

The project is a strategic partnership with the government of Democratic Socialist Republic of Sri Lanka, enhancing India’s presence in the energy landscape in the neighboring countries.

Pursuant to the transaction, Trincomalee Power Company Limited (TPCL), a 50-50 joint venture between NTPC Limited and Ceylon Electricity Board of Sri Lanka, shall undertake development of the 50 MW solar power project in Sri Lanka, along with certain transmission infrastructure.

The transaction team was led by Prashant Sirohi, Partner; Tinnish Sharma, Senior Associate; and Madhvi Vangani, Associate.

Partners, Anoop Rawat and Sagar Dhawan, advised on the security-related aspects.