Category: Power
ICRA : Recent developments in power sec credit positive for mini-hydros
ICRA Lanka views recent developments in the hydro power sector to be credit positive. We based our assessment on three factors, (1) availability of sufficient water flows (run off river flow) due to favourable weather conditions that prevailed last year, (2) the Ceylon Electricity Board’s (CEB’s) decision to renew Power Purchase Agreements (PPAs) with hydro […]
PUCSL asks CEB for explanation regarding recent power outages
Feb 07, 2020 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), the electricity regulator is seeking an investigation report on the recent power outage from Ceylon Electricity Board (CEB), a statement said. Issuing a statement the PUCSL has asked the CEB to submit the said report on or before 12th February 2020. Sri Lanka […]
Crysbro energises sustainable farming practices with solar power
Feb 03, 2020 (LBO) – In a major step in its continual efforts to embrace sustainable farming practices across all layers of its operations, leading Sri Lankan poultry producer Crysbro successfully completed the installation of a mega solar power generation system at its Galgamuwa Farm. This latest development saw Crysbro install nearly 1,200 solar panels […]
Norwegian Ambassador opens Sri Lanka’s first floating solar plant
Jan 27, 2020 (LBO) – Sri Lanka’s first-ever floating solar plant with a capacity of 42KW located at the Kilinochchi campus of the Jaffna University was opened by the Norwegian Ambassador Trine Jøranli Eskedal. The project is a result of the research collaboration since 2017 between the University of Jaffna and the Western Norway University […]
President pays attention to social issues relating to Norochcholai Coal Plant
President Gotabaya Rajapaksa mediates to resolve environmental and social issues caused by the Norochcholai Coal Power Plant. He directed that the coal power plant should be operated according to proper technical procedures and environmental standards. The President made these remarks during a meeting held at the President’s Office, today (17) with the Archbishop of Colombo […]
New Chairman appointed to Lanka Electricity Company
Dec 24, 2019 (LBO) – Sri Lanka’s Power and Energy Minister Mahinda Amaraweera has appointed Attorney-at-Law Athula Priyadharshana De Silva as the new Chairman of Lanka Electricity Company (LECO). LECO has generated a revenue of over 3,000 million rupees this year and it has around 500,000 customers and over 1,500 employees. After taking over as […]
Fitch revises Outlook on Ceylon Electricity Board to Negative
Dec 23, 2019 (LBO) – Fitch Ratings has revised the Outlook on Ceylon Electricity Board’s (CEB) National Long-Term Rating to Negative from Stable and has affirmed the rating at ‘AA+(lka)’. The Outlook revision follows the Outlook revision on Sri Lanka’s ‘B’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable. The rating on CEB, […]
Sri Lanka cable maker ACL buys 51-pct stake in local cable firm for Rs481mn
Nov 27, 2019 (LBO) – Sri Lanka’s cable and conductor manufacturer, ACL Cables has entered into a share sale and purchase agreement to acquire 51 percent of the issued shares of Cable Solutions (Private) Limited for 481 million rupees. The overall transaction contemplated includes the purchase of up to 75 percent of the issued shares […]
Fitch affirms Ceylon Electricity Board at AA+; outlook stable
Nov 26, 2019 (LBO) – Fitch Ratings has affirmed Sri Lanka-based Ceylon Electricity Board’s (CEB) National Long-Term Rating at ‘AA+(lka)’ with a stable outlook. The rating on CEB, which is 100% state-owned, is equalised with that of the Sri Lankan sovereign (B/Stable), reflecting strong linkages with the parent, in line with Fitch’s Parent and Subsidiary […]
Sunshine Energy’s third Hydropower Plant adds 2.4MW to national grid
Nov 11, 2019 (LBO) – Sunshine Energy (Pvt) Ltd, a fully-owned subsidiary of Sri Lanka’s diversified conglomerate Sunshine Holdings, opened its third hydropower plant Elgin recently in the Lindula Region. Sunshine Energy’s Elgin plant generates 2.4MW, contributing to the national grid. With the addition of the third plant, Sunshine Energy now contributes close to 7MW […]
SL should prepare implementable electricity generation plans: Nishan de Mel
Oct 15, 2019 (LBO) – Sri Lanka should prepare implementable and consistent electricity generation plans incorporating PESTAL factors, global trends and policy changes, without focusing only on the technical mix of the electricity generation, an economist said. “I think we misunderstand the problem of planning. We think that planning is simply an act of getting […]
Italian government to help Sri Lanka to build Solid Waste Power Plant
Oct 14, 2019 (LBO) – Italian ambassador to Sri Lanka, Rita Mannella says that the Italian government is ready to provide technical assistance and investment opportunities to generate electricity using the waste which is a growing issue in the country. The Ambassador said that Sri Lanka could face the growing demand for electricity in the […]