Sri Lanka venture capital firm invests in wind power

Managing Director Kristalina Georgieva arrives and starts her first day of work at the IMF

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 to set up a 10MW wind power generation plant in the Kalpitiya peninsula.

LEF will invest 384 million rupees for an equity stake of 40 percent in the project company named Pawan Danavi, it said.

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