Ceylon Energy sets up “Supporting Electricity Supply Reliability Improvement Project”
The Morning: Ceylon Energy, an alliance of St. Theresa Industries, announced the commencement of its first tower erection under the “Supporting Electricity Supply Reliability Improvement Project” (SESRIP – P4), establishing a 33kV Double Circuit tower line from Maho to Ma-eliya on 17 August 2023.
Developed in partnership between Ceylon Energy and its main contractor Qingdao Huijintong Power Equipment Co. Ltd. (HJT) – China, the project is funded by the Asian Development Bank and aims to satisfy the improvement efforts of the Ceylon Electricity Board (CEB). The project will cover a 300-kilometer length of tower lines, with 1,238 total towers.
Ceylon Energy is aiming to reach the next milestone of SESRIP – P4, which is speculated to enable over 400,000 consumers with a stable supply of electricity, in addition to the loss reduction benefits and solar, wind energy collection points across the island.
Ceylon Energy, a front-runner in the energy and power transmission industry, has been active in Sri Lanka for over four decades. The company has extended its services to global markets in Asia, Australia, New Zealand, and Africa. Ceylon Energy operates in multiple industries, including technology and construction services.
OSL take:
Sri Lanka’s power industry has become a hotspot for business/investment opportunities given the country’s target of becoming an emerging business destination in the South Asian region. The increasing demand for power has created business/investment opportunities in Sri Lanka’s renewable energy sector since the government of Sri Lanka has adopted a policy of increasing sustainable and clean energy to 70% of the country’s total power mix. The growth and profits recorded by local businesses engaged in the renewable energy sector is a clear indication of the growth and business potential in Sri Lanka’s renewable energy sector. Many foreign companies engaged in the renewable energy sector have already expressed interest in entering Sri Lanka’s renewable energy sector. Foreign businesses/investors could therefore explore the growing opportunities in Sri Lanka’s renewable energy sector. They could also look at forming partnerships or joint ventures with local businesses engaged in the industry with the aim of expansion.
| Article Code : | VBS/AT/20230919/Z_7 |