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Sunday, 20 September 2015

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Laugfs to set up largest solar power plant

Laugfs Holdings Limited has further expanded its footprint in the power and energy sector with the purchase of two solar power projects as part of an expansion plan to set up the largest solar power plant in the country.

Laugfs Power, a wholly owned subsidiary of Laugfs Gas PLC engaged in renewable energy solutions, recently bought Anorchi Lanka (Pvt) Ltd and Irish Eco Power Lanka (Pvt) Ltd, which develops two solar power projects.

When completed, it will be the largest solar power project in the country with a combined capacity of 20 MW adding around 34 GWh to the national grid every year. Situated on a 90-acre site at Hambantota, the projects are due to be commissioned next year with an estimated investment of Rs. 4.5-5 billion.

The focus on sustainable energy solutions has increased rapidly in recent years in Sri Lanka, with the government's plans to increase the contribution of renewable energy to 20% of the total energy needs by 2020. Laugf's investment in solar power aims to further strengthen its expansion plans in the power and energy sector with renewable and sustainable energy solutions.

"We believe that there is tremendous potential to develop renewable energy sources in taking the country towards a sustainable energy future. With so many resources freely available to us, it is time to make the most of these for the betterment of our nation," said Group Chairman, Laugfs Holdings, W. K. H. Wegapitiya

Since its inception, Laugfs has had a strong focus on exploring and developing sustainable and environment-friendly energy solutions. The pioneering auto gas conversion business, which marked the inception of Laugfs 20 years ago, rapidly became popular among Sri Lankan motorists as a cost effective and a more environmentally sound approach to automotive energy.

In 2001, Laugf's entered the LPG industry offering an alternative, cleaner energy solution for domestic and commercial markets.

Laugfs also hopes to further expand into large-scale generation of wind and hydro energy with long-term plans to extend beyond national borders, into the South and South Eastern regions of Asia.

 

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