Mackwoods seals deal to sell electricity from Tudugala mini hydro plant

2 November 2015 03:57 am - 0 - {{hitsCtrl.values.hits}}

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Mackwoods Energy has been successful in sealing the deal to sell electricity from its Tudugala plant, but the implementation of its other mini hydro projects is being further delayed due to red tape in a number of processes.

The entity recently inked a Standard Power Purchase Agreement with the Ceylon Electricity Board (CEB) in respect of the Tudugala Mini Hydro Project for the purchase of power by the grid, Mackwoods said in a filing to the Colombo Stock Exchange (CSE) on Friday.

However, the timelines for implementation of the remaining mini hydro projects, which are awaiting grid connectivity approval prior to the issue of LOI, have been extended due to delays encountered in the approval process, transmission line and grid availability issues and policy and administrative changes.

“The company is making every effort expedite during the next year, the approvals of the remaining mini hydro projects, which are a key aspect of its diversification into the renewable energy sector in line with the stated objectives of the company,” Mackwoods stated in the filing. Pending approval of the remaining mini hydro projects, the ongoing action plan on the entity includes site inspections, surveys, upgrading facilities, project consultancies, negotiating with funding agencies and potential investors to accelerate implementation of these projects as soon as approvals are granted.

Mackwoods was successful in rehabilitating and connecting a 100KW micro hydro to the grid for net metering in Nuwara Eliya, which is the first national hydro net metering project to be commissioned.

The energy firm has pursued a diversified portfolio approach by expanding the use of existing ‘clean’ renewable energy sources such as hydro, solar, wind, biomass and biogas and is actively following up on proposals submitted for solar power generation and conversion of municipal waste to energy through cutting-edge zero emission technology.

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Mackwoods seals deal to sell electricity from Tudugala mini hydro plant

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