Abstract:
Ceylon Electricity Board (CEB) seeks alternative financing through Public Private
Partnerships (PPP) due to non-cost-reflective tariff losses and debt overhang, relying
on maturity in critical success factors. Thus, the research examines the success factors
of Public Private Partnerships in developing power generation infrastructures in Sri
Lanka, using quantitative data from a questionnaire distributed to stakeholders in CEB.
The data analysis tools of descriptive and inferential statistics were used to analyze the
collected data. The economic viability of the project, credibility of government policies,
legal and regulatory framework, equitable risk allocation, transparent and efficient
procurement process, financial market, a strong and good private consortium, and
political stability, were found as the main CSFs for the development of mega power
plants. The study was concentrated on the public agency of CEB, for generalization
investigation to be extended to private investors, practitioners, and policymakers in the
power sector. Further, a comprehensive study on the exploration of CSF to attract
private investors to PPP for the development of mega power plants in Sri Lanka would
be most beneficial to the industry. The framework developed in this research would be
the benchmark for identifying critical success factors for improvement in PPP projects
in Sri Lanka.
