Sri Lanka’s Sunshine Energy opens its third hydropower plant as part of developing renewable energy
Sunshine Energy (Pvt) Ltd of Sri Lanka, which is a fully-owned subsidiary of Sri Lanka’s diversified conglomerate Sunshine Holdings, has reportedly opened its third hydropower plant Elgin recently in the Lindula Region.
Sunshine Energy’s Elgin plant generates 2.4MW, contributing to the national grid and the addition of the third plant has resulted in Sunshine Energy contributing close to 7MW to the national grid through its mini-hydropower plants, local media reports stated.
The Elgin plant was ceremoniously opened by Sunshine Holdings Group Managing Director Vish Govindasamy in the presence of Sunshine Energy’s senior management, employees of Sunshine Energy, government officials and other dignitaries.
According to media reports, Sunshine Energy’s foray into expanding on sustainable and greener energy opportunities falls in line with Sri Lanka’s national plan of developing renewable energy whereas, by 2050, Sri Lanka aspires to become a carbon-neutral country by harvesting and developing renewable energy sources such as biomass, hydropower, solar and wind.
Group Managing Director Vish Govindasamy has said, “Today, Sunshine Holdings’ energy business sits squarely in the nation-building space, with the potential to contribute significantly towards the annual 6-7% increase in power demand. Sri Lanka is gifted with several types of renewable energy sources and with the national vision aligned towards becoming a carbon-neutral nation, the demand for such sources is definitely on the rise.”
“In preparation for this future, Sunshine Energy is gearing as a responsible business entity in Sri Lanka through the investments in hydropower plants. The newly-opened Elgin hydropower plant further promotes Sunshine Energy’s extensive adoption of energy efficiency platforms in the pursuit of sustainable development, economic growth, creation of local value and prosperity,” he has further said.
The completion of the Elgin hydropower plant has also led to several initiatives where Sunshine Energy had got directly involved in improving the infrastructure and the quality of life within its operating areas including the renovation of key infrastructures of the area including roads, drains, culverts, bridges and community halls, enhancing the livelihood of people by improving the electrification connectivity in the area, which included religious establishments, and providing employment opportunities for the local community.
OSL take:
The threat of a looming power crisis in the country has resulted in the expansion of business/investment opportunities in Sri Lanka’s power and energy sector. Foreign businesses/investors could therefore confidently explore business opportunities in Sri Lanka’s power sector.
| Article Code : | VBS/AT/20191118/Z_4 |