Panasian Power to construct two mini hydropower plants | Sunday Observer

Panasian Power to construct two mini hydropower plants

Panasian Power announced on Friday the successful acquisition of Lower Kotmale Oya Power Two (Pvt) Ltd.

With this acquisition Panasian will commence construction on two mini hydropower plants (MHP) in the Nuwara Eliya district in early 2018 with an estimated investment of Rs 400 million.

Upon completion these MHPs are expected to yield a combined output of 7.53 GWh per annum, the company said in a release. “This latest acquisition is in keeping with our long term goal of increasing our renewable energy footprint to meet the local demand for clean, low cost energy.

Furthermore, our decade long experience in the mini hydropower sector makes us ideally suited to ensure that the project runs efficiently with the highest energy output,” said General Manager, Panasian Power, Pathmanatha Podiwala. “Renewable energy projects like this will help propel Sri Lanka towards a sustainable energy future that will yield benefits throughout our economy and increase the quality of life,” he said.

He said that due to convenient accessibility, short length of structures and minimal environmental impact, construction of the project is not expected to exceed 12 months.

Lower Kotmale Oya Power Two (Pvt) Ltd., was formed as a special purpose vehicle to develop two cascade projects, the Lower Kotmale Oya II MHP and Medakumbura MHP, utilizing water resources from Kotmale Oya in the Pudaluoya township in the Nuwara Eliya district.

Panasian Power, incorporated in 1982, owns and operates a mini hydropower plant and supplies electricity directly to the Ceylon Electricity Board in accordance with the Small Power Purchase Agreement entered into on July 5, 2004 that spans 15 years with a further extension of 5 years.