BoI signs hydro power projects with Eagle Power
Construction commence :
The project will also set up power plants
at Sudu Ganga to generate 2.4 megawatts
and Kalawewa to generate 1.2 megawatts of
electricity to the National Grid. |
The Board of Investment (BOI) of Sri Lanka entered into agreements
with Eagle Power and Ithopa Super Trust recently.
The ventures are to establish small-scale power projects and to
undertake seed potato cultivation respectively.
The hydropower project carried out by Eagle Power (Private) Limited
will set up three small scale power plants at Maduru Oya, Sudu Gaga and
Kala Wewa.
At the initial stage they will set up power plants at Maduru Oya
Sluice, Drop 9 and Drop 10 to generate 7.7 megawatts of electricity.
The project will also set up power plants at Sudu Ganga to generate
2.4 megawatts and Kalawewa to generate 1.2 megawatts of electricity to
the National Grid.
Chairman of Eagle Power Anurath Abeyratne, stated "We have already
commenced construction at Maduru Oya and expect to complete it within 14
months.
"The second phase which includes Sudu Ganga and Kalawewa projects
will be completed within 3 years".
"If we complete the Maduru Oya project within the scheduled 14 month
completion time, we will be the first private company to generate
electricity using the Mahaweli waters" said Abeyratne.
The company will invest Rs 750 million, Rs 300 million and Rs. 150
million for the power plants at Maduru Oya, Sudu Ganga and Kala Wewa
respectively.
"The company expects to commence similar projects at Minneriya,
Udawalawe and Girithale" said Abeyratne. Chairman, Anurath Abeyratne and
CEO, S Karunaratne signed the agreement on behalf of Eagle Power
(Private) Limited
The BOI also signed an agreement with Ithopa Super Trust to undertake
seed potato cultivation. The project under Nipayum Sri Lanka 300
Enterprises Programme is an investment of Rs. 35 million.
The venture will be established in Yatiyantota and will generate
employment opportunities for a workforce of 125.
Dhammika Perera, Chairman cum Director General signed the agreements
on behalf of the BOI and formally presented the BOI Certificate of
Registrations to the investors. |