Business Times

LOLC bullish on green power

LOLC is actively eyeing more renewable energy projects on the back of commissioning the 48 kilo watt solar system at their head office in Rajagiriya, officials said. "At our vehicle repair facility in Wellampitiya we plan to commission a similar solar pnel. We're calling firms for proposals on this,” Ishara Nanayakkara Deputy Chairman LOLC told the Business Times on the sidelines of a media briefing to commission the Rs 19 million Solar system at LOLC head office.

Energy Minister Champika Ranawaka who commissioned the Solar system noted that the government is keen on renewable energy. Kapila Jayawardena, CEO LOLC noted that 90% of rainwater is also harvested at their Wellampitiya factory.

LOLC is also bullish on dendro power which is generated from sustainable grown biomass (fuel wood).
"We are starting a dendro power project with nitrogen-fixing Gliricidia trees which is a 4 Mega Watt (MW) project in Mathugama," he said. He added that dendro using sustainably grown fuel wood can be effectively used to replace the use of fossil fuels for electricity generation and it can also deliver many other socioeconomic and environmental benefits.

He said with the Solar Panel System at the LOLC head office about 15% of daily electricity usage will be reduced. "We will sell some of the electricity back to the national grid after obtaining relevant approvals," he added. He said LOLC has also commissioned some 28 MW mini hydro projects in Pussellawa and Mathurata plantations.

LOLC recently ventured into hotels when they acquired Confifi Hotels from the Furkhan family. On Monday, the Securities and Exchange Commission granted them provisional sanction to proceed with setting up a share brokering firm.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
Laugfs smiles with Rs. 2.5 bln IPO
GSP-affected apparel exporters to get relief
Second stage of repayment to Ceylinco Shriram depositors soon
Two banks - BOC, ComBank refused broking licences
Oil drilling in Sri Lanka amidst imminent sale of Cairn India
Fancy wearing this!
Comment - Bank making big profits: At what cost?
Feature - Mobile payments: Central Bank guidelines should not kill innovations
Feature - Sri Lanka Tourism – Beyond number crunching
Warranties:Biggest problem for local PC buyers
SOLD: MTV documentary on human trafficking
Importance of operating business websites in Sinhala and Tamil emphasised
Ferrero appoints Delmege Distributors (Pvt) Ltd
Market on the upward trend as traders anticipate price band lift
Listed firms overvalued ; time to take the chips off the table
Rising market cap – Are we seeing the real picture?
India’s Mahindra & Mahindra acquires South Korea’s Ssangyong Motors
Cost reduction/alternate energy way forward for ceramics industry: Expert
CIC gets agency for Stand-up Wheel Chairs in Sri Lanka
SLT commissions Jaffna leg of A9 optical fibre cable
Chinese and Indian companies dominate Sri Lanka’s mega project business
More from Motorola
Sri Lanka is a 'Cinderella' Story: Fund Manager
Singapore Informatics awarded CISI training provider status
Sri Lankan migrant workers policies praised by Bangladeshi team
SL banks charge high interest rates for 'enormous' profits
LOLC bullish on green power
SriLankan Airlines reduces loss, prepares for the future
HSBC Sri Lanka among world’s Best Internet Banks in Asia: Magazine
Poverty reduction in most parts of the country: CEPA
Lanka Tiles factory back in action
Harvard to enhance intellectual capital in Sri Lanka
Banks report top profits while depositor interests are cut
Acuity bullish on corporate finance/investment in SA
Don’t mop up Jaffna deposits
Large number of participants at Young Spikes contest 2010
Computers: Once only from the US, now all over the world
Janashakthi claims top spot in insurance sector
Passionate champion of small farmers and big ideas
Huge presence by China at Gem and Jewellery exhibition
North-East farmers to play bigger role in development : Deputy Minister


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2010 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution