BIZ

Safe Power International to drive Sri Lanka’s renewable energy cohesive approach

Published

2 years ago

July 22, 2023

editor

Safe Power International Ltd. has sealed a groundbreaking Power Purchase Agreement (PPA) with the Ceylon Electricity Board (CEB) to bring the Alankuda 10MW wind power project to life.

The historical event took place at the CEB headquarters, graced by the presence of esteemed personalities such as CEB Chairman N.S. Illangakoon RWP RSP, CEB Vice Chairman Eng. D.K.P.U. Gunathilake, and the visionary minds from Safe Power International Ltd. – Director Palitha Nugaliyadde, Director Mevan Nugaliyadde, and Project Coordinator Sangaranathan Babeendran.

Located in the breathtaking Kalpitiya Peninsula, adjacent to the sea shoreline near Alankuda and close to Norochcholai, the Alankuda 10MW wind farm aims to harness the abundant wind resources of the region to generate clean and sustainable electricity for the nation.

The signing of the PPA marks a monumental milestone in the partnership between Safe Power International and CEB, solidifying their commitment to advancing Sri Lanka’s renewable energy ambitions. According to the agreement, Safe Power International will supply the electricity generated by the Alankuda wind farm to CEB for an impressive period of 20 years.

Anticipated to be completed within one and a half years, the project will involve the installation of state-of-the-art wind turbines and the development of essential infrastructure, ensuring seamless integration into the national power grid. Upon completion, the wind power plant is projected to generate over 36 GWh (Gigawatt Hours) of clean energy annually, significantly reducing greenhouse gas emissions and the country’s reliance on fossil fuels.

The collaboration between Safe Power International Ltd. and CEB not only underscores their dedication to sustainable development but also highlights the growing importance of renewable energy in Sri Lanka, aligning with the ambitious Climate Prosperity Plan (CPP). Through harnessing the wind’s power, this project aims to diversify the country’s energy mix, promoting a greener and more sustainable future, projected to offset more than 1,160,000 metric tons of CO2 emissions over its lifetime.

Gratitude was expressed by the representatives of Safe Power International to the Ministry of Power, CEB, and Sustainable Energy Authority during the signing ceremony, acknowledging their unwavering support and cooperation throughout the project’s development. The shared vision of these entities is to expedite the adoption of renewable energy technologies, addressing the pressing global challenges posed by the climate emergency.

The Alankuda 10MW wind farm is not only a boon for the environment but also expected to have a positive impact on the local economy. During the construction phase, it will create numerous job opportunities and spur growth in the Kalpitiya area. Moreover, the project will enhance Sri Lanka’s energy security by diversifying its power generation sources.

As Sri Lanka sets its sights on achieving its renewable energy targets, aiming for 70% by 2030, the signing of the PPA for the Alankuda 10MW wind farm represents a remarkable stride forward. The collective efforts invested in realising this project showcase an unwavering commitment to a sustainable and environmentally friendly future for the nation.

Source – ft.lk

BIZ

CIB Big City fined Rs. 1 mn. for selling overpriced bottled water

Published

2 hours ago

June 26, 2025

editor

CIB Big City, a private business outlet in Maharagama, has been fined Rs. 1 million by the Gangodawila Magistrate’s Court today (June 26) for selling overpriced bottled water.

A case was filed against the business outlet following a raid carried out by the Consumer Affairs Authority (CAA) officials on May 09, 2025.

During the raid, officials had discovered that a 500 ml bottle of water has been sold at Rs. 90 despite the MRP being declared as Rs. 70 by a gazette notification published on April 01, 2025.

The store is a part of the well known fashion chain – Wijaya Group, which is chaired by Mr. K.R.G Wijesundera.

Related News :

MRP issued for bottled drinking water

BIZ

Oil prices plunge as Trump announces ceasefire

Published

2 days ago

June 24, 2025

editor

Oil prices fell sharply to their lowest in more than a week on Tuesday as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, alleviating worries of supply disruptions in the Middle East – a major oil-producing region.
Brent crude futures were down $2.08, or 2.9%, at $69.40 a barrel around 0330 GMT, after earlier tumbling more than 4% and touching its lowest level since June 11.

U.S. West Texas Intermediate crude declined $2.03, or 3.0%, to $66.48 per barrel, having dived 6% to its weakest level since June 9 earlier in the session.

BIZ

BOC to provide Rs. 10 Bn for grooming young entrepreneurs

Published

4 days ago

June 23, 2025

editor

Deputy General Manager of Development Banking and Branch Credit Operations of Bank of Ceylon (BOC) R.M.N. Jeewantha said that the Bank Has introduced a special programme to create new entrepreneurs for the country from young people with a business idea.

He stated that the basic requirement for becoming an entrepreneur is to have an entrepreneurial idea, and that the bank provides all other advisory services including financial and non-financial facilities required to become a successful entrepreneur.

He stated this at the Bank of Ceylon headquarters while participating in a special discussion with the Daily News newspaper on Friday (20).

“We provide all the resources, facilities and advice required for the young people who come in this way to practically implement their business ideas. Last year, this programme created 15,000 new young entrepreneurs for the country. This year, our aim is to bequeath another group of young people to the country. The bank is ready to provide Rs 10 billion rupees as the initial capital required for this group,” he said.

The bank provides an initial capital of Rs. 500,000 for the new start-up at the initial stage without any securities as no collateral is needed. He said that even for a person already engaged in a business, the bank will provide the necessary support free of charge to develop that business, sell products, introduce new products, and enter the export market. Accordingly, any person under the age of thirty can come to the bank’s SME Circle and receive the necessary advice and financial facilities to develop as an entrepreneur.

“Anyone under the age of thirty who has a business idea should come to the bank. The bank is ready to provide Rs. 500,000 as initial capital for such start-ups at a low interest rate of seven percent. They also do not need collateral,” he added.

(dailynews.lk)
(This story, originally published by dailynews.lk has not been edited by SLM staff)