Sri Lankaâ€™s Laugfs group mulls renewable energy plants overseas
ECONOMYNEXT – Sri Lanka’s Laugfs Gas group is considering setting up renewable energy plants in overseas locations, its chairman W K H Wegapitiya said.
The company is the largest solar power generator supplying to the national grid, he told a news conference held to announce the group’s restructuring under which the core liquid petroleum gas business will be consolidated into one entity and non-core sectors spun off.
“Renewable energy is a business that’s highly profitable and difficult to enter,” Wegapitiya said.
“We operate the largest solar plant at Hambantota. We have a 20 year buy back agreement with the CEB. We have the highest rate.
”We are adding more plants in Sri Lanka and other Asian markets.”
Wegapitiya said the company was exploring renewable energy projects in other countries and that “talks are underway.”
(COLOMBO, March 13, 2018)