Sri Lanka’s Vidullanka ups stake in Panasian Power
EconomyNext – Sri Lankan hydropower firm Vidullanka said it had bought 10.5 million shares of Panasian Power on December 22 and now holds a 10.2 percent stake or 50.9 million shares in the rival firm.
Vidullanka has seven mini-hydropower stations in operation and one being built with a total installed capacity 15.5MW. it has also ventured into Africa with plans for a mini-hydro power plant in Uganda.
Vidullanka’s share price closed at 5.70 Wednesday, up 0.10 or 1.79 percent.
It’s newest plant is the mini-hydro power plant in Kotmale, Nuwara Eliya, a ‘run of the river’ type plant with a capacity of 4MW commissioned in June 2014.
In February 2014 Vidullanka started construction of a 1.75MW plant in Rideepana in the Badulla District.
Panasian Power also owns and operates mini-hydropower plants with a total capacity 11.9MW with new projects raising capacity to 15MW in the near future.
The stock closed at 3.20 rupees, up 0.10 or 3.23 percent.