Connect with us

News

Acquisition of Yugadanavi power plant and right to build new LNG terminal: US firm says agreement finalised

Published

on

US based energy firm, New Fortress Energy Inc. on Tuesday (21) announced that it had executed a definitive agreement with the Sri Lankan government for New Fortress’ investment in West Coast Power Limited, the owner of the 310 MW Yugadanavi Power Plant based in Colombo, along with the rights to develop a new LNG Terminal off the coast of Colombo.

Issuing a press release, New Fortress Energy Inc., said as a part of the transaction, New Fortress will have gas supply rights to the Kerawalapitya Power Complex, where 310 MW of power is operational and an additional 700 MW scheduled to be built, of which 350 MW is scheduled to be operational by 2023.

Given below is the statement: “New Fortress will acquire a 40% ownership stake in WCP and plans to build an offshore liquified natural gas (LNG) receiving, storage and regasification terminal located off the coast of Colombo. New Fortress will initially provide the equivalent of an estimated 1.2 million gallons of LNG (~35,000 MMBtu) per day to the GOSL, with the expectation of significant growth as new power plants become operational.

“The 310 MW Yugadanavi Power Plant currently has a long-term power purchase agreement to provide electricity to the national grid that extends through 2035. This power plant consists of General Electric turbines and is configured to run on natural gas in a combined cycle.

“”This is a significant milestone for Sri Lanka’s transition to cleaner fuels and more reliable, affordable power,” said Wes Edens, Chairman and CEO of New Fortress Energy. “We are pleased to partner with Sri Lanka by investing in modern energy infrastructure that will support sustainable economic development and environmental gains.”

“The Kerawalapitya Power Complex is the foundation of the baseload power that serves the country’s population of 22 million people. Delivering cleaner and cheaper fuels to Sri Lanka will support the country’s growth for years to come.”



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

MoU signed for technology to prevent wild elephant-train collisions

Published

on

By

The Memorandum of Understanding (MoU) relating to the project to provide technological solutions to prevent wild elephants from being hit by trains was signed yesterday (01) afternoon at the President’s Media Centre, under the patronage of Secretary to the President Dr Nandika Sanath Kumanayake.

Coordinated through the “Clean Sri Lanka” programme, the project is being implemented as a public-private partnership, with the Railway Department, the Department of Wildlife Conservation and the Forest Conservation Department working together, with full financial support from People’s Bank.

The system consists of three-beam detection, passive infrared (PIR) sensors, automatic temperature sensors and a tamper alarm system to detect animals weighing more than 20 kilogrammes and unauthorised interference. Signal lights (red/yellow/green) installed on either side of the railway tracks, together with a special screen installed inside the locomotive cab, will alert the driver in advance to the exact location of an elephant.

A demonstration test of the system was successfully conducted at the Pinnawala Elephant Orphanage premises in the presence of the relevant officials, following which a report on the system was prepared.

The system will be implemented as a pilot project from next month at 13 locations where wild elephant accidents are frequent. A newly developed website is also scheduled to be launched to enable the progress of the project to be viewed live.

Additional General Manager of Railways P.D.S.B. Chandrasena, Director General of Wildlife Conservation M.S.L.R.P. Marasinghe, Conservator General of Forests S.C. Palamakuumbura and Chairman of People’s Bank Chandana Guniyangoda signed the relevant MoU. Officials from the Clean Sri Lanka Secretariat, including Presidential Additional Secretary (Clean Sri Lanka) Engineer S.P.C. Sugeeshwara, as well as senior officials from the Railway Department, Department of Wildlife Conservation, Forest Conservation Department and People’s Bank, were also present.

[President’s Media Division]

Continue Reading

Latest News

Grade 5 scholarship exam results released

Published

on

By

The Commissioner General of Examinations has announced that the results of the 2026 Grade 5 Scholarship Examination have been released online, and can be viewed on the department’s official website: www.doenets.lk

 

 

Continue Reading

News

Prime Minister participates in Global Conscious Food Systems Summit in Bhutan

Published

on

By

Prime Minister Dr. Harini Amarasuriya  departed  Sri Lanka on Monday, 31 August, to undertake an official visit to Bhutan to participate in the Global Conscious Food Systems Summit, scheduled to be held in Bhutan.

During her visit, Prime Minister Dr Amarasuriya participated in the opening plenary of the Summit on 1 September, where she delivered a keynote address under the theme “Rising to the Moment: Igniting Consciousness to Address the Polycrisis.”

The Prime Minister will also engage in discussions with international leaders and representatives on strengthening cooperation towards sustainable food systems, food security and resilient communities.

[Prime Minister’s Media Division]

Continue Reading

Trending