Panasian Power Limited, which recently concluded a Rs 600 million IPO, has taken steps, as stated in the prospectus of its IPO, to expand its plant capacity of the mini-hydro plant at Rathganga, Ratnapura.
The present capacity of 2 mw will be increased to 3 mw, which will increase its supply of electricity to the CEB.
The company has already obtained the approval of the CEB for this expansion.
Panasian Power Limited Chairman, Dr Prathap Ramanujam said, “The Company will continue to increase its capacity with new acquisitions as part of its strategy to increase its capacity to 15 mw of mini hydropower generation.
The company is also considering expanding investment into other sustainable renewable energy sources.”
The construction agreement to implement this was signed between Panasian Power Limited and Vidullanka PLC on December 30, 2010. The plan is expected to be in operation by December 2011.
source - www.dailynews.lk
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