Vallibel Power Erathna PLC, the largest public quoted mini hydropower company in the country, has entered into a power purchase agreement (PPA) with the Ceylon Electricity Board (CEB), for the sale of electricity from its 9.9MW Erathna hydropower plant until 2024, according to a stock exchange filing.
“The signed agreement is valid till July 20, 2024 and has the provision for an extension of up to July 14, 2039,” it stated.
Vallibel Power entered into the agreement with the CEB on July 7. The company reasoned that the delay in making the market disclosure was due to the delay in receiving the confirmation of signing the agreement.
The company has three mini hydropower plants in Kuruwita, Ratnapura and Norton Bridge, with a cumulative capacity of 21.85 MW.