LAUGFS Power Ltd a subsidiary of LAUGFS Gas PLC, will invest a further Rs. 3.5 billion until 2020 to add 20 MV of solar power to the national Grid.
LAUGFS Power engaged in renewable energy solutions with mini hydro power (since 2014) and solar power generation projects currently owns and operates Sri Lanka’s largest solar power project in Hambantota and plans tore-invest in two stages to add 20 MW of Solar.
Managing Director LAUGFS, Thilak De Silva told Daily News Business that the first 10 MW project in Hambantota is a Joint venter solar project with Sustainable Energy Authority on a profit sharing basis.
This would be Sri Lanka’s first solar battery storage capacity to provide stable power to the national grid. “We plan to commence operations early next year. In addition we will reinvest to increase capacity in our Hambantota Solar facility in latter part of 2019,”he said.
In addition LAUGFS Power would also build a 1MW solar Power projects in Embilipitiya, under the Soorya Bala Sangramaya Phase II launched by the Ministry of Power & Renewable Energy. “We have obtained all approvals and will commence project works by January.”
He see that they see great potential and high demand for Solar in the future and would invest in more projects. “On the advice of Group -Chairman. W. K. H. Wegapitiya, we are currently looking at investing in Kenya on several hydro power projects.”
LAUGFS Power set up Sri Lanka’s largest solar power project in 2017with an investment of around Rs.5 billion. The 20MW facility at Hambantota was constructed by international experts deploying European technology. LAUGFS expects to contribute 40 GWh annually to the national grid.
These solar power projects will be an important contributor to reduce the country’s dependence on traditional fossil fuel for electricity generation, significantly driving down foreign currency outflow. As per the Central Bank Report 2017, around 69.2% of the electricity demand in the country is at present met through fossil fuel based power generation.
The new plant is expected to eliminate the emission of greenhouse gasses (GHG) by about 28,000 tons annually from the air that would otherwise have been emitted with the use of fossil fuel.
As a brand with deep Sri Lankan roots, LAUGFS in a bid to minimise the environmental footprint across the group, LAUGFS Power launched an ambitious project to install solar PV systems on the rooftops of all possible premises of LAUGFS’ businesses.
As the first phase of this initiative, 324 kW and 47.5 kW rooftop solar PV systems were installed with an investment of Rs. 49 million at the LAUGFS rubber factory in Horana and LAUGFS Holdings head office in Colombo respectively.
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