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Laugfs Power starts building 20-MW solar plant in Sri Lanka

Solar power plant. Author: Mountain/ \Ash. License: Creative Commons, Attribution 2.0 Generic

February 19 (SeeNews) - A subsidiary of Sri Lankan diversified business conglomerate Laugfs Holdings Ltd on Thursday broke ground on a 20-MW solar park in Hambantota, Sri Lanka’s Southern Province.

Laugfs Power (Pvt) Ltd is the company building the plant, which would be the country’s largest solar installation. At present, Sri Lanka has three solar power systems with a combined capacity of 1.4 MW, the company said.

The project’s cost is calculated at around LKR 5 billion (USD 34.7m/EUR 31m). Upon completion, supposedly in October 2016, the 20-MW solar power facility will be able to generate an estimated 40 GWh of electricity per year.

Laugfs Power is a renewable energy unit of local cooking gas distributor Laugfs Gas Plc that focuses on generating electricity from hydroelectric and solar power stations.

(LKR 1.0 = USD 0.695/EUR 0.625)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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