Category: Power

July 01, 2012 (LBO) – Dendro power plants in Sri Lanka may be unviable if too many are licensed to operate close to each other because competition may drive up firewood prices to high levels, an industry official has warned. Tokyo Power, a unit of Sri Lanka’s Tokyo Cement group is building a 5 MegaWatt […]

June 20, 2012 (LBO) – Sri Lanka’s thermal power generation had picked up sharply in the first quarter of 2012 with total generation up 8.8 percent from a year earlier while hydro generation fell steeply, official data shows. Total generation rose 8.8 percent to 2,956 GigaWatt hours (millions of units) indicating strong demand in the […]

May 29, 2012 (LBO) – Sri Lanka’s Vallibel Power Erathna Plc, a mini hydro firm, said it lost 13. 04 million rupees in the March 2012 quarter as revenues fell amid drought and a tariff paid by the state power utility also decreased. The firm reported losses of 2 cents per share for the quarter. […]

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 […]