Notwithstanding the fact that a consensus was finally reached, in June this year, between the state-run NTPC and Ceylon Electricity Board (CEB) on a series of issues that were hampering the 2x250 MW coal-based Trincomalee power project in Sri Lanka, execution of the requisite agreements still awaits communication of a formal approval from the Sri Lankan side.- The management of an eager NTPC had accorded its approval for signing of these agreements, which include the joint venture and shareholders agreement (JVSHA), power purchase agreement (PPA), implementation agreement (IA) and board of investment agreement (BOI), back in July itself.
- Draft versions of these agreements were, reportedly, finalized by the partners over the last visit of NTPC-officials to Sri Lanka and, subsequently, put up for the approval of the concerned authorities in both countries.
- Pertinently, due to the delay in finalization of these implementation agreements, the term of the Memorandum of Agreement (MoA), signed between the two power utilities and Government of Sri Lanka for the execution of the power project, has already been extended, from the original March 28, 2010, to December 31, 2010.
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