Sri Lankan generator Panasian Power PLC's acquisition of Lower Kotmale Oya Power Two Ltd. will lead to the construction of a pair of small hydropower plants.
Panasian Power assumes development rights for the Lower Kotmale Oya 2 and Medakumbura facilities, which will have a cumulative output of about 7.5 GWh and cost around US$2.6 million to complete.
"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," Panasian Power general manager Pathmanatha Powiwala said. "Renewable energy projects like this will help propel Sri Lanka towards a sustainable energy future that will yield benefits throughout our economoy and increase the quality of life."
Both plants are expected to be completed in early 2018.
Panasian Power, a subsidiary of Resus Energy PLC, already operates three small hydropower plants, including the 3-MW Rathganga, 2.4-MW Manelwala and 3.5-MW Padiyapelella.
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