Sri Lanka’s Laugfs plans two 10MW floating solar power plants

ECONOMYNEXT – Sri Lanka’s Laugfs Gas group has sought approval through its power subsidiary to set up two floating solar energy plants as it seeks to expand and diversify its generation capacity.

Laugfs Power Limited (LPL), which is to be listed on the Colombo stock exchange, has a long-term strategy to achieve an overall generating capacity of 50 MW of solar, 20 MW of wind and 10 MW of mini hydro.

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Laugfs Power Limited is to be listed on the ‘Diri Savi’ or second board of the Colombo Stock Exchange. It aims to list 335 million ordinary voting shares and 52 million non-voting shares.

The move is part Laugfs Gas Ltd. group’s efforts to focus on its core liquefied petroleum gas business by spinning off non-core units that include leisure and auto emission testing.

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According to listing documents filed with the stock exchange, Laugfs Power has submitted a proposal to the government to obtain necessary approvals to set up two floating power projects of 10 MW each.

The proposals are at a preliminary stage of consideration by the government, it said.