Category: Power

June 14, 2011 (LBO) – Sri Lanka’s Panasian Power said it had signed a deal to buy a mini hydro firm that had 6. 5 MegaWatts of capacity under development, at valuation to be decided later. The firm had signed a memorandum of understanding with Padiyapelella Hydro Power (Pvt) Ltd to buy the firm at […]

June 09, 2011 (LBO) – The International Finance Corporation, part of the World Bank group, is investing 3.8 million US dollars in Sri Lanka’s SENOK group to support its wind power projects. “IFC’s investment will help develop SENOK’s capacity in renewable energy and support the company’s plans to adopt global environmental and social practices,” a […]

June 09, 2011 (LBO) – The Malaysian controlling shareholder of Sri Lankan mini hydro firm Panasian Power reduced its control with the sale of a large stake in trades which boosted market turnover on the Colombo bourse Thursday. Power Hub International Sdn Bhd sold 68, 325,100 shares of Panasian Power in three lots at eight […]

June 6, 2011 (LBO) – Emagewize (Pvt) Ltd, has bought 77 million shares in Panasian Power, a mini hydro firm for 6. 00 rupees a share, director Dilith Jayaweera said, in a deal valued at 460 million rupees. Emagewize has recently bought into Colombo Land, the owners of a shopping complex. It also controls Citrus […]

May 23, 2011 (LBO) – Sri Lanka’s listed Hayleys group said a wind power plant it is building in the island’s north western coastal town of Kalpitiya will begin commercial operations in September 2011. The 10 MegaWatt wind plant is run by its unit Nirmalapura Wind Power (Private) Ltd. The Kalpitiya peninsula has another wind […]

May 10, 2011 (LBO) – Vallibel Power Erathna, a Sri Lankan mini-hydro power firm, said March 2011 quarter net profit rose 57 percent to 44. 6 million rupees from a year ago. Annual sales rose 22 percent to 534 million rupees while basic earnings per share for the year were 56 cents compared with 55 […]

May 06, 2011 (LBO) – Sri Lanka is to provide solar power for the 10 percent of homes that cannot be reached by extending the national electricity grid in its bid to ensure 100 percent electrification by 2012. The Cabinet of ministers has approved a proposal by the power and energy ministerPatali Ranawaka to introduce […]

Apr 25, 2011 (LBO) – Sri Lanka’s Property Development, a subsidiary of the state-owned Bank of Ceylon, has acquired hydro-power company for 23. 6 million rupees. The acquisition of a 95 percent stake in Koladeniya Hydropower was revealed in the company’s financial results for the March 2011 quarter filed with the Colombo stock exchange. Property […]

SENDAI, March 31, 2011 (AFP) – Japan said Thursday its crisis-hit nuclear plant must be scrapped, but currently had no plans to evacuate more people, despite calls for a larger exclusion zone around the crippled facility. “At the moment, we do not have the understanding that it is necessary to evacuate residents there. We think […]

Mar 28, 2011 (LBO) – Sri Lanka’s power ministry has alleged that a private sector conspiracy could be behind the sudden withdrawal of fuel supplies to a thermal power plant which had failed to pay arrears. It said in a statement the Ceylon Petroleum Corporation, under the petroleum ministry, had stopped supplying heavy fuel oil […]

Mar 28, 2011 (LBO) – Sri Lankan venture capital Lanka Ventures said it will invest 384 million rupees through a subsidiary to set up a wind power plant on the island’s north-west coast. A stock exchange filing said LVL Energy Fund (LEF), a fully-owned subsidiary of Lanka Ventures, has signed a deal with LTL Holdings […]

Mar 23, 2011 (LBO) – Sri Lanka’s night power demand hit a new peak load of 2,000 MegaWatts on Tuesday amid hot seasonal weather and growing usage, in a day that the utility officially commissioned a new 300 MegaWatt coal plant. Power demand hit a peak of 1,999 MegaWatts at 7. 30 in the evening […]