Aitken Spence invests in renewable energy project in hydropower
View(s):
Dr. Parakrama Dissanayake - Deputy Chairman and Managing Director Aitken Spence PLC (right) accepting the share transfer from Harsha Abeywickrama - Chairman Sunshine Energy Ltd; in the presence of Ms. Stasshani Jayawardena - Executive Director Aitken Spence PLC; Dr. Rohan Fernando - Executive Director Aitken Spence PLC; Ms. Nilanthi Sivapragasam - Chief Financial Officer Aitken Spence PLC and Leel Wickremarachchi - Managing Director of the power segment from Aitken Spence PLC; and Shyam Sathasivam - Managing Director, Sunshine Energy Ltd. and Harin Udeshi - Director, Waltrim Energy Ltd.
Aitken Spence PLC recently acquired Waltrim Energy Limited, a subsidiary of Sunshine Holdings PLC for Rs. 900 million. The company contributes 6.6MW to the national grid via three mini hydropower plants located in the Nuwara Eliya district, namely, Waltrim Hydropower (Private) Limited, Upper Waltrim Hydropower (Private) Limited and Elgin Hydropower (Private) Limited. The Waltrim hydropower draws energy source from Kothmala Oya, Upper Waltrim hydropower and Elgin hydropower from Dambagasthwala Oya, Aitken Spence said in a media release.
Aitken Spence is expanding its portfolio in hydropower in the pursuit of meeting rising energy demands, sustainable development, access to clean energy and lowering the national carbon footprint. This is the second hydropower plant which is owned and operated by Aitken Spence. Branford Hydropower (Pvt) Ltd. is the other hydropower plant with a 2.5MW capacity located in Matale. The company also owns and operates a wind power plant with 3MW capacity located in Ambewela.
“This is yet another investment made by Aitken Spence that shows our commitment to expand the power generation portfolio with renewable energy projects. Hydro power plays a key role in renewable energy segment in Sri Lanka and this initiative strengthens the country’s efforts to move towards cleaner energy sources and effective and efficient management of sustainable and affordable generation of energy supplied to the national grid,” said Parakrama Dissanayake, Deputy Chairman and Managing Director of Aitken Spence PLC.
“Aitken Spence maintains highest environmental, safety and quality standards in the management of our power plants. These stringent management frameworks will be extended to the newly acquired power plants to meet compliance requirements as well as global benchmarks for cleaner production of energy,” added Leel Wickremarachchi, Managing Director of the power segment of Aitken Spence.