Ceylon Energy embarks on tower stringing journey for ADB-funded CEB project
Ada Derana: Ceylon Energy a strategic alliance of St Theresa Industries, in collaboration with Qingdao Huijintong Power Equipment Co., Ltd (HJT) – China, has initiated the tower stringing phase of the “Supporting Electricity Supply Reliability Improvement Project” (SESRIP – P4).
This project marks a significant milestone, furthering Ceylon Energy’s commitment to delivering stable electricity to more than 400,000 consumers while enhancing loss reduction benefits and expanding solar and wind energy collection points across Sri Lanka.
Funded by the Asian Development Bank (ADB), this project aims to satisfy the improvement efforts of the Ceylon Electricity Board (CEB), covering tower lines totaling a length of 300-kilometers, with 1,238 total towers.
Commenting on this momentous occasion, Ceylon Energy Founder and CEO Madushanka Fernando said: “With the commencement of the SESRIP-P4 project’s tower stringing phase, we are taking a significant step towards realizing our commitment to providing reliable electricity to the people of Sri Lanka. We believe that sustainable and innovative solutions will shape the future of the energy sector. This project is a testament to our dedication to quality, sustainability, and a brighter, more electrified tomorrow.”
This phase, which began on October 20, 2023, signifies a crucial step toward achieving the project’s goals of ensuring a reliable electricity supply for a large number of consumers, reducing energy losses, and establishing sustainable energy collection points.
Looking ahead, Ceylon Energy is committed to completing the SESRIP-P4 project by the end of March 2024. This achievement will not only provide a stable electricity supply to a substantial number of consumers but also expand the network of solar and wind energy collection points, contributing to a more sustainable and reliable energy future.
In addition to its core expertise in power transmission projects, Ceylon Energy operates in multiple industries, including technology and construction services. The company is dedicated to making the world a better place by providing innovative and sustainable solutions.
OSL take:
Sri Lanka’s power industry has become a hotspot for business/investment opportunities in the country given the expanding economic activities in the country and the target of becoming an emerging business destination in the South Asian region. With Sri Lanka working towards increasing its power generation capacity with greater focus on renewable energy generation, there are many business/investment opportunities in the renewable energy generation sector. Also, there are opportunities in the increasing of the country’s power generation, distribution and transmission capacities that have created more business/investment opportunities for foreign businesses/investors. The growth and profits recorded by local businesses engaged in the country’s power industry is indicative of the overall business potential in the industry. Foreign businesses/investors could therefore confidently explore the expanding opportunities in Sri Lanka’s power industry while also looking at the possibilities of forming partnerships or joint ventures with local businesses engaged in the industry with the aim of further expansion.
| Article Code : | VBS/AT/20231106/Z_6 |