Shardul Amarchand Mangaldas & Co. advised NTPC Limited on 50 MW solar project in Sri Lanka valued at USD 100 million
Shardul Amarchand Mangaldas & Co. advised NTPC Limited in relation to the power purchase agreement and implementation agreement for the development of a 50 MW solar power plant in Sri Lanka, valued at USD 100 million. The agreements were signed on 5 April 2025.
The project marks a significant strategic partnership with the Government of the Democratic Socialist Republic of Sri Lanka, strengthening India’s energy collaboration with its neighbouring countries.
As part of the transaction, Trincomalee Power Company Limited (TPCL)—a 50:50 joint venture between NTPC Limited and Ceylon Electricity Board of Sri Lanka—will develop the solar power plant, including associated transmission infrastructure.
The Shardul Amarchand Mangaldas & Co. team was led by Prashant Sirohi (Partner), with support from Tinnish Sharma (Senior Associate) and Madhvi Vangani (Associate).
On the security-related aspects of the transaction, the team was advised by Anoop Rawat (Partner) and Sagar Dhawan (Partner).
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