Category: Power

May 22, 2012 (LBO) – Sri Lanka’s Hemas Power, a unit of listed Hemas Holdings said profits in the March 2012 quarter fell 78 percent to 24 million rupees amid as it was hit by foreign exchange losses. The firm reported earnings of 16 cents for the quarter in interim acconts. In the year to […]

May 5, 2012 (LBO) –Japan’s Deputy Prime Minister Katsuya Okada, began his second day in Sri Lanka on Saturday touring the island’s last hydro power plant that is being built with Japanese assistance. Accompanied by Sri Lankan President Mahinda Rajapakse, Okada inspected the 150 megawatte Upper Kotmale hydro power project, that is scheduled to finish […]

Apr 14, 2012 (LBO) – Sri Lanka’s state-run power utility, the Ceylon Electricity Board has lost 25. 5 billion rupees in 2011 and run up debts of 121 billion rupees with a petroleum distributor and independent power producers. Data in the Central Bank’s annual report said power generation rose 7. 5 percent to 11,521 GigaWatt […]

Mar 30, 2012 (LBO) – The Initial Public Offering of Sri Lanka’s Mackwoods Energy Limited that was oversubscribed on the opening day has drawn applications worth almost 400 million rupees, a stock exchange filing said. The IPO was an offer for subscription for 25 million ordinary voting shares at 14 rupees each, to raise a […]

Mar 26, 2012 (LBO) – National Development Bank said it is considering funding projects to generate energy from bio-mass, waste and solar having given loans to support hydro and wind power plants. They were among several key sectors identified by NDB’s project finance division for lending to support economic growth in post-war Sri Lanka, a […]

Mar 23, 2012 (LBO) – The Initial Public Offering of Sri Lanka’s Mackwoods Energy Limited was oversubscribed on the opening day Thursday, registrars to the issue S S P Corporate Services said in a stock exchange filing. “The funds are expected to be used to finance the working capital requirements and part finance the company’s […]

Mar 13, 2012 (LBO) – Mackwoods Energy Limited, a unit of Sri Lanka’s privately held Mackwoods group is is raising 350 million rupees from a public offer to build hydro power plants and expand existing business, officials said. The firm will sell energy through a flat-tariff power purchase agreement to state-run Ceylon Electricity Board. The […]

Feb 14, 2012 (LBO) – Sri Lanka’s power regulator has approved surcharges of between 15 to 40 percent on the bills of power users to recover a part of the cost of a steep fuel price increase, an official said. State run Ceylon Electricity Board still received some fuels below market price, PUCSL officials said. […]

Feb 13, 2012 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has asked the regulator for a tariff hike or a fuel surcharge to cover part of an estimated 79 billion rupee loss in 2012, power ministry secretary M M C Ferdinando said. The CEB has budgeted for expenses of 179. 05 billion with revenue […]

Jan 27, 2012 (LBO) – Vallibel Power Erathna, a Sri Lankan mini-hydro power firm, said it has begun commercial operations at a new power plant. A stock exchange filing said the 4. 65 mega watt ‘Kiriwaneliya’ mini hydro power project of its subsidiary Country Energy has begun commercial operations. Country Energy, which has approvals for […]

Jan 19, 2012 (LBO) – A 500 mega watt capacity coal plant to be built in eastern Sri Lanka with Indian aid is to get a range of tax exemptions and priority in approvals, the island’s Cabinet of ministers has decided. Recognition of projects under the ‘Strategic Development Project’ law entitles them to a range […]

Jan 19, 2012 (LBO) – Japan’s Marubeni Corporation plans to return to Sri Lanka and is keen on investing in power projects including supplying liquefied natural gas, the Ministry of Industry and Commerce said in a statement. Marubeni is a diversified multinational conglomerate engaged in diversified trading activities like imports and exports of food materials, […]