Category: Power
Laugfs Gas to infuse Rs1.1bn for expansion of its LPG Transshipment Terminal
Dec 27, 2018 (LBO) – Laugfs Gas will infuse 1,150 million rupees for the expansion of its LPG Transshipment Terminal facility located at Hambantota International Port, the company said in a stock exchange filing. Under the expansion plan, the storage capacity of the terminal to be extended up to 45,000 MT from 30,000 MT supporting […]
Sri Lanka to construct 60MW wind and 150MW solar power plants
Nov 29, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved the procurement process for a policy framework for the construction of solar and wind power plants in the island. A 60 Mwt wind power plant and 150 Mwt solar power plant will be connected to the national grid by 2020. The proposal was […]
SAARC energy regulators meet in a bid to initiate regional power trade
Nov 13, 2018 (LBO) – Sri Lanka hosted the third meeting of South Asian Association for Regional Cooperation (SAARC) council of experts of energy regulators (Electricity) in Colombo, Tuesday to pave the way for initiating regional power trade through the implementation of SAARC framework agreement. Apart from the infrastructure and regional power trading, the council will […]
LVL Energy Fund 6-month profit exceeds previous full year profit
LVL Energy Fund PLC with an operational footprint covering Sri Lanka, Bangladesh and Nepal, recorded a strong financial performance in the first half of the current financial year, which is reflected in the company’s provisional financial results for the 6-month period ended 30th September 2018. In a remarkable achievement, its 6-month profit of LKR 461 […]
LVL Energy Fund set to expand portfolio with 7 new solar power plants
Leading energy company and a subsidiary of Lanka Ventures, the LVL Energy Fund PLC is set to expand its alternative energy footprint with the development of seven new solar power projects. The plants will be set up in partnership with First Energy SL (Pvt) Ltd, in strategic locations across the island and will have a […]
Sri Lanka to implement tranche 2 of green power development program
Oct 18, 2018 (LBO) – Sri Lanka plans to implement the tranche 2 of the green power development and energy efficiency improvement investment program. The program includes three major components; transmission infrastructure enhancement, efficiency improvement of medium voltage network and demand-side management improvement for energy efficiency. Accordingly, Secretary of the Finance Ministry Dr.R H S […]
We do not expect govt. to implement a price formula for electricity soon: Fitch
Oct 09, 2018 (LBO) – Fitch Ratings on Tuesday said that they do not expect the government to raise electricity tariffs or implement a cost-reflective pricing formula as the government faces elections in the next 24 months amid rising costs. Fitch Ratings revealed their expectation while affirming Ceylon Electricity Board’s National Long-Term Rating at ‘AAA(lka)’ […]
Construction work of Sri Lanka’s first LNG power plant to begin next month
Sept 28, 2018 (LBO) – Construction work of Sri Lanka’s first liquified natural gas (LNG) fuelled power plant will be commenced in Hambantota next month. As per the Memorandum of Understanding signed between Sri Lanka and China, this will be a joint venture between the Chinese government and the Ceylon Electricity Board. This LNG power […]
Cabinet nod for 500MW LNG plant in Kerawalapitiya
Sept 20, 2018 (LBO) – – The Ceylon Electricity Board has been given cabinet approval to sign an agreement with India’s NTC to build and 500 Meggawatt liquefied natural gas power plant, a cabinet statement said. The new LNG plant will be built in Kerawalapitiya and is an agreement between the two governments. The cabinet proposal was […]
‘s rooftop solar power project
Sept 19, 2018 (LBO) – The Enterprise Sri Lanka projects which was launched by the Ministry of Finance has received Rs 8 billion ( USD 50 Million) from the Asian Development Bank for the rooftop solar power generation project. The main objective of this project is to support government’s “Battle for Solar Power Programme” to achieve […]
Cabinet approves USD50mn ADB loan to boost rooftop solar power generation
Sept 12, 2018 (LBO) – Sri Lanka’s cabinet nod has been received to obtain 50 million US dollars worth ADB loan to help fund rooftop solar power generation systems in Sri Lanka.The project will finance rooftop solar power subprojects equivalent to an additional capacity of 50 megawatts while building capacity and awareness of relevant authorities, […]
CEB and PUCSL call truce : Entities developing common platform to approve generation plan
Sept 10, 2018 (LBO) – Ceylon Electricity Board (CEB), the state utility who provide electricity for Sri Lanka and its regulator the Public Utilities Commission of Sri Lanka (PUCSL) are to develop a mutually agreed process to approve electricity generation plan. The CEB, upon receiving the letter from the PUCSL indicating the timeline of the activities […]