Sri Lanka’s Sunshine Holdings eyes renewable energy projects

wind-power

May 26, 2015 (LBO) – Sri Lanka’s Sunshine Holdings said it is considering diversify and expand the renewable energy sector, if the government is willing to disclose plans for the sector, Group Managing Director said, Tuesday.

“We are looking at opportunities in solar and wind power,” Vish Govindasamy, Group Managing Director of Sunshine Holdings Plc said.

“If the government opens up the plan for the sector, we are ready to contribute.”

The company already has a subsidiary named Sunshine Energy Ltd to explore and produce renewable energy and to function as a sustainable commercial entity.

Its first commissioned hydropower plant in Lindula (Waltrim Lower) has been generating 1.62MW of power, providing energy to the national grid.

The company said it has signed power perchase agreements for two new plants and counstructions are underway which will increase the group’s energy production up to 7.5 mega watts.

The diversified Sunshine Holdings group’s net profit fell 42 percent to 98 million rupees from a year ago with earnings per share at 73 cents while sales rose three percent to 4.1 billion rupees in March 2015 quarter, interim report showed.