Sri Lanka's HNB syndicates R9bn loan for waste-to-energy plant
Jun 03, 2018 06:54 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka's Hatton National Bank said it had syndicated 9.0 billion rupee loan for Western Power Company, a waste-to-energy firm, which is a unit of publicly trade Aitken Spence Plc.
Bank of Ceylon, DFCC and People’s Bank were co-lenders.
"The recovery of energy from waste has become crucially important with Waste to Energy (WtE) power generation, one of the world’s most effective and green modes of managing disposal of garbage," DGM Corporate Banking of HNB, Ruwan Manatunga said.
""Our business too is evolving in response to this global trend."
Western Energy Company will have a capacity to burn 700 metric tonnes of waste from the Colombo municipal area, powering a 10 MegaWatt power plant in 2020.
The plant will be in Kerawalapitiya, Muthurajawela in the Western province of Sri Lanka. (Colombo/June02/2018)