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 expected tariff is 14.58 rupees per kilowatt.
Mackwoods Energy will expand four existing hydro plants which are now being used to run factories at Agalawatte Plantations Plc, a group company.
In Wedamulla in Nuwara Eliya, it will upgrade a 200 kiloWatt plant to 1.4MegaWatts at a planned cost of 269 million rupees. It is expected to have enough water to operate 41 percent of the time in a year (plant factor) and generate 4.809 GigaWatt hours of energy.
In Labookelle, the firm plans to upgrade a 100 kilowatt generator to 1.3 MegaWatts at a planned cost of 246 million rupees. It will have a plant factor of 40 percent and will generate 4.343GigaWatts of energy a year.
In Frotof, also in Nuwara Eliya, Mackwoods Energy will upgrade a 60kiloWatt plant to 900kiloWatts at a cost of 167 million rupees. It is expected to have a plant factor of 40 percent and generate 2.999 GigaWatt