Gnanam family-controlled Capital City secures 10MW wind power plant contract in Trinco

The Cabinet of Ministers this week gave its nod to award the contract for the construction of 10MW wind power plant for the Trincomalee Grid Substation to Gnanam family-controlled Capital City Holdings (Pvt)Ltd.

The Minister of Energy Udaya Gammanpila presented the Cabinet memorandum on Monday to award the contract to purchase 10MW wind power capacity for a time period of 20 years for Trincomalee Grid Substation at the rate of Rs.14.52 per unit (14.52 LKR/Kwh) and to construct the power plant inter connectedly to the transmission network for Capital City Holdings 
(Pvt) Ltd.

The Cabinet office said the proposal was based on the recommendations of the Cabinet-appointed Negotiating Committee appointed following the international competitive bids procedure.

S.R Gnanam serves as the Chairperson of Capital City Holdings and it also holds 3 percent stake in Tokyo Cement PLC.

The government plans to add 60 MW wind power to the electricity supply system through Trincomalee, Mannar, Bolawatta, Madampe and Kappalthure grid substations with a view to increase the usage of renewable energy sources.

The government plans to meet 70 percent of the country’s electricity demand using renewable energy sources by 2030.