Sept 11, 2015 (LBO) – Laugfs Holdings Ltd. has acquired two solar panel projects with a plan to set up the largest solar power generator in the island.
Laugfs Power, which is a unit of Laugfs Gas PLC, has acquired Anorchi Lanka Ltd, and Irish Eco Power Lanka Ltd, which have rights to build two solar power projects with a combined capacity of 20 megawatts, a media report said.
The projects will be situated in a 90 acre site in Hambantota and will cost 4.5-5 billion rupees, according to the company. They are expected to come online in 2016.
Laugfs has investments in mini-hydro and its Ranmudu Oya mini-hydro plant in Balangoda, with two megawatts capacity over three phases, went online last year.