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Friday, December 31, 2010

SRI LANKA : HPFL inks deal with CEB

December 30, 2010

Hydro Power Free Lanka 2 and Hydro Power Free Lanka 3 inked deal with Ceylon Electricity Board (CEB) to sell power and get tax concessions. Hydro Power Free Lanka 2 and Lanka 3 are the subsidiaries of Hydro Power Free Lanka (HPFL) while Ceylon is Sri Lanka's state power utility and investment promotion agency.

According to a stock exchange filing, HPFL subsidiaries, Hydro Power Free Lanka 2 and Hydro Power Free Lanka 3, are constructing two min-hydro power plants of one megawatt each at Thebuwana and Stellenberg.

As per the deal, the subsidiaries of HPFL will get tax cut and other concessions such as duty free imports. HPFL will construct another three new plants - 0.83 MW plant in Thebuwana, 0.94 MW plant in Stellenberg and 3.0 MW plant in Halgran Oya.

source - www.hydroworld.com