Aitken Spence PLC has announced that the company has recently acquired hydro power operator Waltrim Energy Limited, a subsidiary of Sunshine Holdings PLC for Rs. 900 million.
The company contributes 6.6MW to the national grid via three mini hydro power plants located in the Nuwara Eliya district, namely of Waltrim Hydropower (Private) Limited, Upper Waltrim Hydro power (Private) Limited and Elgin Hydropower (Private) Limited.
The Waltrim hydro power draws energy source from Kothmala Oya, Upper Waltrim hydro power and Elgin hydro power from Dambagasthwala Oya.
Aitken Spence expands its portfolio in hydro power in the pursuit of meeting rising energy demands, sustainable development, access to clean energy, and lowering our national carbon footprint.
This is the second hydro power plant which is owned and operated by Aitken Spence. Branford Hydropower (Pvt) Ltd. is the other hydro power plant with a 2.5MW capacity located in Matale.
The company also owns and operates a wind power plant with 3MW capacity located in Ambewela.
“This is yet another investment made by Aitken Spence that shows our commitment to expand the power generation portfolio with renewable energy projects.
Hydro power plays a key role in renewable energy segment in Sri Lanka and this initiative strengthens the country’s efforts to move towards cleaner energy sources and effective and efficient management of sustainable and affordable generation of energy supplied to the national grid,” commented Dr. Parakrama Dissanayake, Deputy Chairman and Managing Director of Aitken Spence PLC.
The Power segment of Aitken Spence is a leading player in the sector with a reputation for investing in pioneering technologies and has diversified into renewable energy by establishing hydro power and wind power plants to support Sri Lanka’s demand for energy.
With their commitment to increase the country’s energy consumption from renewable energy sources, the company recently introduced Sri Lanka’s first waste to energy power plant that was officially launched in February 2021.
Moreover, these initiatives are in line with the collective efforts of government and the private sector to produce clean energy sustainably.