Category: Power

Apr 19, 2010 (LBO) – More private investment is likely to get attracted to Sri Lanka’s power sector given stable and growing demand and improve profitability especially among hydro-power producers, a ratings agency report said. However, investments will be restricted to small power plants of less than 25 megawatts capacity as a new electricity law […]

Apr 13, 2010 (LBO) – Units of Sri Lanka’s state petroleum and power utilities could be listed in the Colombo Stock exchange to broad base their ownership and make them more transparent and accountable, the Central Bank has said. Last year the state-run Ceylon Petroleum Corporation had lost 12. 3 billion rupees partly due to […]

Apr 07, 2010 (LBO) – A Malaysian-Bahraini joint venture, Orizon Renewable Energy, plans to invest 230 million US dollars in Sri Lanka to set up a power plant that will generate energy from solid waste, the investment promotion agency said. “It also will ensure that no more lands are allocated to landfills.” A M C […]

Apr 05, 2010 (LBO) – Sri Lankan private power producer Vidullanka PLC commissioned and connected its fourth power plant to the national grid on March 26, the company said in a stock exchange filing. The plant is owned by Gurugoda Hydro, a joint venture between Vidullanka and Hiradamani Pvt Ltd. It was built by Vidul […]

Mar 30, 2010 (LBO) – Sri Lanka’s Distilleries Company, said it was spending 750 million rupees to buy into a 4 MegaWatt hydro power plant in a tea plantation which is an associate firm in its group. Distilleries is part of the Stassen’s group controlled by businessmen Harry Jayewardene. Bogo Power Pvt Ltd, will be […]

Mar 19, 2010 (LBO) – Sri Lanka’s president Mahinda Rajapaksa has launched the second stage of a coal power complex built with Chinese financing which will add another 600 MegaWatt, the president’s office said. China became top lender to commit funds to Sri Lanka is 2009 accounting for 1.2 billion US dollars. The first 300Mega […]

Mar 18, 2010 (LBO) – Senok Wind Power, Sri Lanka’s first commercial wind energy plant, will start operating this month in Puttalam in the island’s north western coast using a 10 MegaWatt plant, officials said. “This pioneering effort set from Senok has set the pace for attracting private sector investment for further development of wind […]

Feb 17, 2010 (LBO) – The Asian Development Bank (ADB) and Japan will provide support to Sri Lanka to improve its power transmission system and expand rural electrification, an ADB statement said. It is also expected to reduce poverty by improving access to electricity in rural areas, and enhance energy efficiency and renewable energy development, […]

Feb 10, 2010 (LBO) – Sri Lanka’s loss-making state power utility, whose rates have been held below cost by successive governments for political reasons, is running a ˜tariff deficit’ of 30 percent, an expert said. Breakeven is not the end of the story but another stage in the process of a more comprehensive tariff reform […]

Feb 09, 2010 (LBO) – Sri Lanka’s Hemas Power said December quarter net profit rose 71 percent to 142 million rupees from a year ago as thermal power generation costs fell and hydro power hit peak output during the rainy period. Sales of the firm, which supplies power to state-run Ceylon Electricity Board and is […]

Jan 21, 2010 (LBO) – Sri Lanka is seeking Korean help to study the feasibility of starting a nuclear power plant in the island, power and energy ministry secretary M M C Ferdinando said. “We are discussion with the government of Korea (South) to implement nuclear power in Sri Lanka,” secretary Ferdinando told reporters Wednesday. […]

Jan 21, 2010 (LBO) – The wrapping up of a joint venture deal to build a coal power plant on Sri Lanka’s eastern coast by India’s National Thermal Power Corporation (NTPC) has been put off till presidential polls are over, an official said. The government said a joint venture agreement and a power purchase agreement […]