Sunday, July 24, 2011

Browns to add 16mw to national grid


Free Lanka Capital Holdings and Hydro Power Free Lanka, companies within the Browns Group will supply around 16 MW to the national grid by end 2013 said Group Chief Operating Officer, Browns Group of Companies, Rimoe Saldin.

He said Hydro Power Free Lanka presently operates two mini hydro power plants Sanqhuar and Delta which adds 3.2 MW of power to the national grid. Each power plant generates 1.6 MW.

The plants are set up on estates run by Hydro Power Free Lanka.

Hydro Power Free Lanka has commenced constructing two mini hydro power plants named Thebuwna and Stellenberg at Kuruwita and Gampola which will generate 1.8 MW. Work on the two plants is expected to be completed by end of 2012. Saldin said that Hydro Power Free Lanka will construct two mini hydro power plants namely Halgranoya phase one and phase two at Ragala.

The plants will supply 3.6 MW to the national grid.He said in addition to the power plants that will be built by Hydro Power Free Lanka, Free Lanka Capital Holdings will construct seven mini hydro power plants which will generate 7.5 MW.

“The tea and rubber estates managed by Free Lanka Capital Holdings have the resources to set up mini hydro power plants. It is our strategy to use assets of the estates to generate revenue”, Saldin said.

Free Lanka Capital Holdings is a joint venture between Browns Investments and Perpetual Holdings.

“The Group is investing and diversifying into key areas such as plantations, leisure, manufacturing, exports and construction”, Saldin said.The Browns Group posted a pre tax profit of Rs. 3.6 billion for the year ended March 31, 2011. Net profits grew by 185 percent to Rs. 3.26 billion during the year under review. The Browns Group was formed by James Brown in 1875.

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