Aug 31, 2011 (LBO) – Sri Lanka’s Browns Investments has said it plans to make use of its plantations to generate more hydropower and increase capacity to 16 megawatts and sell electricity to the national grid. Free Lanka Capital Holdings, a joint venture between Browns and Perpetual Holdings, is the holding company of Pussellawa and Mathurata plantations which manage 19,000 acres of tea and 13,000 acres of rubber in the hill country.
The firm, a joint venture between Brown & Company and Taprobane Holdings, said power generation is one of the sectors identified as a “sunshine industry” in which it plans to make investments.
“Browns Investments, through Free Lanka Capital Holdings, is also leveraging other assets on the estates by venturing into hydropower and leisure,” the company told shareholders in its annual report.
“The company’s investment into hydropower through Free Lanka continues to show good results,” it said.
Two hydropower plants, Delta and Sanquhar, which are operational have the capacity to generate 3.2 megawatts.
“By harnessing hydropower potential on the estates, the company expects to generate a total of 16MW of electricity by 2013, which will be supplied to the nati