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Sunday, 1 February 2015

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NDB facilitates wind power projects

The NDB granted two long-term facilities aggregating Rs. 3.3 billion to build and commission two wind power projects in Vallimunai and Puloppalai in the Killnochchi district.

The two projects, Joule Power (Pvt) Limited and Beta Power (Pvt) Limited were commissioned in December 2014 and are one of the first wind power projects in the Northern region.

Setting up of the two wind power projects will support economic development in the northern region, where industrial activity has not been possible due to the lack of connection to the national power grid during the conflict.

Chief Executive Officer, NDB Rajendra Theagarajah said, "Both projects are of national importance and will give the opportunity for NDB to contribute to the infrastructure development of the country.

With the Sri Lankan economy growing steadily along with revived economic activities, the demand for energy has increased significantly."

"A reliable source of power is a necessity to re-energise economic activities in the North and the East. Therefore, we see this pioneering effort as vital and timely for the nation's economic growth agenda. As a bank dedicated to national development, we are pleased to contribute towards this national endeavour."

The Chief Executive Officer, Joule Power and Beta Power, Manjula Perera said, "The two projects will add approximately 60 GWh green energy annually to the national grid and also will electrify approximately 100,000 houses while supporting economic development in the northern region."

Sri Lanka's energy demand grows at approximately 8% annually. Sri Lanka traditionally has been dependent on hydro power for energy. However, in the past decade this has shifted to thermal power. Sri Lanka is now pursuing wind power as an alternative energy source.

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