Hayleys signs PPA for 50 MW wind power project with $ 50 million investment
Daily FT: HayWind One Ltd., said last week it signed a Power Purchase Agreement (PPA) with the Ceylon Electricity Board on 28 May for a 50 MW wind power project located in Mannar under the Build, Own and Operate model.
HayWind One is a fully-owned subsidiary of Hayleys Fentons Ltd., which is a subsidiary of Hayleys PLC.
“With the execution of the PPA, the project has reached a definitive stage, and the anticipated completion period is approximately 18 months from the date of execution of the PPA,” Hayleys said.
The total investment in the project by HayWind One Ltd., will be approximately $ 50 million.
OSL take:
The ongoing economic expansion recorded by Sri Lanka and the expanding growth potential have resulted in the overall growth and expansion of the country’s power and energy industry. The ongoing expansion drive in the country’s power and energy industry is specifically focused on the renewable energy generation sector. With Sri Lanka’s target of increasing the country’s renewable energy generation component to 70% of the total energy mix, there’s an expansion in the business/investment opportunities in the renewable energy generation sector. The growth and profits recorded by local businesses engaged in the renewable energy sector indicates the increasing business potential in the sector. The interest shown by many foreign players in the renewable energy generation industry is also indicative of the increasing demand for Sri Lanka’s renewable energy generation sector. The sector has presented business/investment opportunities that range from direct to indirect ones. Given all these factors, foreign businesses/investors could explore the growing business/investment opportunities in Sri Lanka’s renewable energy generation sector while also exploring the possibility of expanding operations through local collaborations.
| Article Code : | VBS/AT/20250617/Z_4 |