President launches 50 MW Hayleys Fentons Mannar wind power project
Daily FT: President Anura Kumara Dissanayake on 15 January launched the 50 MW wind power project developed by Hayleys Fentons Ltd., in Mannar, with the Government announcing that it has secured private sector agreements to develop renewable energy over the next few years far exceeding expectations.
The state-of-the-art wind power plant will comprise 10 wind turbines and is expected to generate 207 million kilowatt-hours (kWh) of electricity annually. A notable feature of the project is the supply of electricity at a tariff of $ 0.0465 per unit, equivalent to Rs. 14.37 per unit. The project is scheduled for completion in March 2027, the President’s Media Division said.
Hayleys PLC Chairman/CEO Mohan Pandithage, Managing Director Hasith Prematillake, Executive Director Sarath Ganegoda, and Hayleys Advantis Ltd., General Manager Ruwan Waidyaratne were present at the occasion.
Speaking on the occasion, Energy Minister Kumara Jayakody stated that the project, which commenced construction yesterday, is not only a renewable energy initiative that will contribute to powering the country, but also a project designed to provide essential facilities and benefits to the people of the region.
“In 2025, our target for renewable energy capacity addition was 1,848 MW. However, we were able to exceed this target by adding a capacity of 2,695 MW. For 2026, the target has been set at 2,078 MW, and agreements have already been signed for a capacity of 3,089.5 MW,” the Minister said.
“Similarly, while the targets for 2027, 2028, and 2029 were set at 2,563 MW, 3,253 MW, and 3,943 MW, respectively, agreements have already been signed for capacities of 3,822.5 MW, 4,332.5 MW, and 4,634.5 MW. Accordingly, for the period from 2025 to 2029, instead of the originally planned total capacity of 9,759 MW, agreements have now been secured for a total capacity of 12,789.5 MW. This clearly demonstrates that we are making significant and successful progress in achieving our renewable energy objectives,” he said.
OSL take:
Sri Lanka’s focus on expanding clean and sustainable energy generation solutions and the increasing demand for power in line with the overall economic expansion have opened many business/investment opportunities in the country’s power industry, especially in the renewable energy generation sector. With Sri Lanka growing as an emerging business destination in the South Asian region, there will be a steady demand for renewable energy generation in the country. Apart from the renewable energy development projects that have opened many business/investment opportunities, there are also opportunities in the ongoing conversions into renewable energy witnessed in both the public and private sectors as sustainable and cheaper energy options. The increasing business potential in Sri Lanka’s renewable energy generation sector is evident by the growth and profits recorded by businesses already engaged in the sector as well as the increasing interest among foreign businesses/investors in entering the sector. Foreign businesses/investors could explore the expanding opportunities in Sri Lanka’s renewable energy generation sector while also looking at entering the sector through local collaborations.
| Article Code : | VBS/AT/20260119/Z_3 |