Laugfs enters into hydropower
To acquire plants, Rs 500 m investment:
Laugfs Power Limited, a subsidiary of Laugfs Gas Limited will invest
Rs 500 million on a mini hydro power plant and acquiring existing two
mini hydro power plants.
W K H Wegapitiya
There are many potential mini hydro power generation sites in the
country which has not been exploited to the full. Private sector as well
as public sector should tap these renewable energy sources including
wind, solar and bio diesel, Laugfs Holdings Limited Chairman W K H
Wegapitiya told Daily News Business.
He said the proposed mini hydro power plant at Ranmudu Oya in the
Imbulpe Pradeshiya Sabha area in Balangoda will be in the extent of one
acre and is expected to contribute the national grid with two mega watts
under three phases.
“Hydro power is the cheapest source of power which is an untapped
market which will also benefit the ultimate consumer. Phase one of the
Ranmudu Oya project will start immediately after signing of the Power
Purchase Agreement (PPA) with Ceylon Electricity Board (CEB) while phase
two and three will be completed in one year,” he said.
There will be 100 job opportunities generated at the first phase and
300 job opportunities will be generated at the phase two and three.
Discussions are under way with several promoters of mini hydro projects
to acquire two mini hydro plants in different areas.
After acquisition of two mini hydro power plants that will start
construction soon, Laugfs expects to contribute to the national grid
with five mega watts.
“Laugfs will explore the other renewal energy sources such as wind
and solar power in two to three years making Laugfs a fully-fledged
power generating business in the future,” Wegapitiya said.