Business

Resus Energy connects eighth small hydropower station to national grid with 2.4 MW capacity

Published

5 years ago

2022/02/23

It is fed by the Madulla Oya, a main tributary of Uma Oya

Resus Energy PLC, a forerunner in renewable energy, operating a number of small hydropower and ground mounted solar PV stations in Sri Lanka, recently connected its eighth small hydropower station to the national grid.

Fed by the Madulla Oya, a main tributary of Uma Oya, and built with state-of-the-art equipment at a cost of over Rs. 700 million, the power station carries an installed capacity of 2.4 MW. The power station is expected to generate about 8 million units of electricity (8 GWh) annually.

Despite navigating through a difficult year hit by a global pandemic, leading to long lockdown periods, Resus continues to keep faith in its expansion drive and supports the country’s renewable energy drive and its economic liberation.

Resus Energy also commissioned a couple of utility-scale ground mounted Solar PV stations in the recent past. Among them are those in Siyambalanduwa in the Monaragala district which add 2MW to the national grid.

With the latest grid-connected small hydropower stations, Resus now operates 10 grid-connected power stations with an aggregated capacity of over 17.5MW with estimated annual energy generation standing over 50GWh.

The government recently further pledged to achieve 70% of the electricity generation from renewables in 2030.

The power station is expected to generate about 8 million units of electricity (8 GWh) annually

“It is commendable that the Sri Lankan government has set an ambitious target to achieve a high-level of renewable energy generation. That showcases true interest to partner the global effort to combat climate change and achieve Sustainable Development Goals (SDGs). Resus Energy is happy to partake in fulfilling that dream. In line with this we are currently constructing 12MW utility scale Solar PV stations that will be connected to the national grid towards the middle of this year”, said Kishan Nanayakkara, Managing Director, Resus Energy.

He further said that “Sri Lanka being a signatory to the 2015-Paris Agreement on climate change, has pledged support for it and is thus obliged to adhere to the implementation of SDGs. The target set for renewables put us on the right course to achieve SDG 7 which is about the provision of Clean and Affordable Energy”.

“As a company that is truly interested in people and the planet in pursuit of primary business goals, Resus Energy, believes in creating a shared value that benefits all its stakeholders and towards this end, we consistently strive to ensure that our carbon footprint remains at an absolute minimal level even as we scale up our operations. Resus gives priority to ensure that none of its operations have negative impacts on the environment”, Nanayakkara further said.

Over the last few years, Resus Energy consistently won awards and accolades for its reporting and sustainability work from CA Sri Lanka, ACCA and also has been a winner of the National Green Awards.

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Business

Ceylinco Life agent among three global finalists for award

Published

14 hours ago

2026/09/27

Thilina Walpola

Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

Business

CEAT Kelani retains AA+ rating for sixth year

Published

14 hours ago

2026/09/27

Thilina Walpola

CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

Business

SLT-MOBITEL Enterprise launches Premium Cloud

Published

14 hours ago

2026/09/27

Thilina Walpola

Riyaaz Rasheed, CEO, SLT-MOBITEL, and Faiz Shakir, VP Sales – Nutanix, Southern Asia, unveil SLT-MOBITEL Enterprise Premium Cloud Powered by Nutanix to support enterprise digital transformation

SLT-MOBITEL Enterprise, the enterprise services arm of Sri Lanka Telecom PLC, has launched its Premium Cloud service powered by Nutanix, aimed at helping Sri Lankan businesses modernise their IT infrastructure and accelerate digital transformation.

The service was unveiled at the Lanka Tech Summit 2026 held recently at ITC Ratnadipa, Colombo.

The Premium Cloud combines hybrid multi-cloud capabilities with enterprise-grade performance, enabling businesses to run mission-critical workloads, scale cloud deployments and strengthen business continuity through disaster recovery capabilities.

Hosted on SLT-MOBITEL’s Tier III data centre infrastructure, the platform is designed to provide enhanced security, reliability and flexibility while supporting the growing technology requirements of enterprises.

SLT-MOBITEL Enterprise said the platform would also support organisations seeking to adopt AI-ready capabilities and improve the management and performance of IT workloads.

A key feature of the launch was SLT-MOBITEL Enterprise joining the Nutanix Elevate Service Provider Program (NESPP), which the company said made it the first service provider in the region to join the programme.

Powered by Nutanix’s hybrid multicloud platform, the service enables application and data mobility across on-premises environments, public clouds and edge locations.

The company said the partnership combined Nutanix’s cloud technology with SLT-MOBITEL’s local expertise and support, strengthening its multi-cloud portfolio.