External Affairs Minister Salman Khurshid, his Sri Lankan counterpart G L Peiris and government officials from both sides, among others, are expected to be present during the signing of pacts.
Electricity generated from the plant, which would have two units of 250 MW, would be supplied to CEB.
Coal for the project would be imported and supplied by Lanka Coal Company (LCC), while land would be given by the Sri Lankan government on a long term lease.
Even though the agreement for the joint venture project was signed in late 2011, various differences between NTPC and CEB had been delaying further progress.
India's largest power producer NTPC has an installed generation capacity of 41,184 MW.
