ECONOMYNEXT – Sri Lanka’s Vidullanka Plc said it had entered into an agreement with a consortium of promotors led by SEL Tech International (Pvt) Limited on to jointly develop the 4.9 MW Beliatha solar power plant in Hambantota.
The agreement was signed on May 31, the company said in a stock exchange filing.
“Vidullanka PLC will own 50.l% of the project company, Beliatha Solar Project (Pvt) Ltd.”
The project is expected to cost approximately one billion rupees.
Further details will be announced after the commissioning of the project, the company said.
Vidullanka voting shares closed flat at 9.30, non-voting shares closed down at 7.30.
Vidullanka, a leading renewable energy provider in Sri Lanka has seen its outlook improve following the government’s decision to market price electricity and a commitment to grow the share of renewables in the grid to 70%. (Colombo/Jun10/2024)