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.”
The projects will be located on the Kotmale River near Pundaluoya in Sri Lanka‘s Central Province.
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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