Sri Lanka’s Sunshine Holdings Plc to expand operations into solar and wind power generation
Sri Lanka’s Sunshine Holdings Plc, which has already entered the field of hydro power generation, is reportedly planning to enter the solar and wind energy.
According to reports, the firm is looking at entering into solar and wind power generation through its own projects as well through acquisitions or partnerships.
“We are currently looking into the feasibility of venturing into roof top solar power projects in the near future,” Group Managing Director Vish Govindasamy has reportedly told shareholders
“We are also looking at a public-private partnership on ground mounted solar projects.”
The Company in its report to shareholders has said that Sunshine has identified locations where up to 1 MegaWatt of rooftop solar could be built. A pilot project was underway to learn about the sector.
According to reports, with the state owned Ceylon Electricity Board and the government looking to increase renewable energy, the firm is looking at getting into ground mounted solar on their own or with partners.
In wind the company would partner with “like-minded investors”, the Company has reportedly said.
Sunshine already runs two mini-hydro plants in Lindula, Talawakelle, with a combined capacity of 4.2 MegaWatts. A 2.4MW plant is under construction in Lippakelle estate.
The expansion of Sri Lanka’s Sunshine Holdings into the field of solar and wind power generation is due to the Sri Lankan government’s policy of expanding renewable energy generation in the country’s power and energy sector. What with a looming power crisis by 2020 in Sri Lanka, the government of Sri Lanka is currently looking at expanding its power generation network. Therefore, foreign companies/investors could explore opportunities in the country’s power and energy sector and they could also consider the formation of partnerships/joint ventures with stable local companies to engage in projects in Sri Lanka.
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