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Keells Food Products opts for rooftop solar via revenue sharing model

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Deal with Sino Lanka Power Gen

Sino Lanka Power Gen has struck a deal with Keells Food Products PLC (KFP), for the installation of a solar photovoltaic (PV) system on a revenue sharing model at their factory in Ekala, Ja-Ela. With this roof-mounted and grid-connected power plant, Sino Lanka Power Gen brings the John Keells Group closer to achieving its vision of a sustainable future, a news release from Sino Lanka said.

Details of the arrangement remain undisclosed at present.

Sino Lanka Power Gen provides state-of-the-art US and European equipment, capable of withstanding harsh tropical environments, utilising the latest technology from US brand Sunpower, alongside purpose-built inverters from German brand SMA Solar Technology. The company adopts the latest industry trends -namely IoT, big data, and AI- to ensure their systems perform optimally for well over 20 years.

“We are pleased to be teaming up with Keells Foods Products, and be a part of their solar expansion strategy,” said Dhiren Kundanmal, Director of Sino Lanka Power Gen. “Not only are we diligent with our solar plant asset performance management, but we are also dedicated to mitigating any financial and technical risks so that they receive the best value for their investment.”

Keells Food Products -the market leader in the processed meat industry- is a unit of Sri Lanka’s largest listed conglomerate, John Keells Holdings, and is bound by the group’s commitment towards reducing their carbon footprint. Through its many investments in clean energy, the company hopes to set the bar in environmental consciousness by tapping into the country’s potential for solar energy; and also pave the way for a more sustainable Sri Lanka.

“We have entrusted Sino Lanka Power Gen with our sustainability efforts, confident that we will be able to impact a significant portion of our production, and with the highest-quality equipment,” said Daminda Gamlath, President at JKH Consumer Foods. “In taking proactive steps to reduce our own carbon footprint, we hope that other manufacturers in the country are also inspired to follow suit in opting to invest in clean energy solutions.”

Sino Lanka Power Gen is a joint venture between the Sino Lanka Group -an Asian enterprise with investments in real estate, hospitality, chemicals, healthcare, financial services, and rooftop solar, among others-, and the Atman Group, an investment holding company with investments in renewable energy, hospitality, real estate, and agriculture.

Sino Lanka Power Gen provides reliable and modern renewable and sustainable sources of energy for businesses, with a dedicated engineering and operations team that counts over 25 years of collective experience in implementing rooftop solar projects across Sri Lanka. Sino Lanka Power Gen’s vision is to support the government’s initiatives on the “Soorya Bala Sangramaya” policy statement, where the government expects to meet 70% of the total electricity demand from renewable energy sources by 2030.



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INSEE Ecocycle to provide waste management solutions for Galle Analytical Lab

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Signatories to the agreement were Mrs. Dharshani Lahandapura, Chairperson and Dr. P.B. Terney Pradeep Kumara, General Manager, MEPA and Sanjeewa Chulakumara, Director of INSEE Ecocycle Lanka (Private) Limited together with senior officials from both organisations

INSEE Ecocycle, the nation’s pioneer in sustainable waste management has joined hands with the Marine Environment Protection Authority (MEPA), the apex body established to prevent, control and manage pollution in Sri Lanka’s marine environment, to provide Sustainable Integrated Waste Management Solution for the MEPA’s Galle analytical laboratory recently.

Prior to the agreement, no sustainable solution for analytical laboratory waste and chemical waste existed in the country. This hazardous waste was accumulated at laboratory premises or due to misconduct, was discharged into the open environment such as drains, soil or natural water streams etc. As a result, possible environmental impacts such as soil acidification or soil alkalization, eradication of aquatic plants and animals, possible ground water contamination, acid rains and ozone depletion could have taken place.

Similarly devastating human health impact such as skin cancers, liver damage, blindness, neurological disorders, adverse pregnancy outcomes and bioaccumulation were also a possibility.

Commenting on the agreement Sanjeewa Chulakumara noted, “INSEE Ecocycle is proud to partner with MEPA for analytical laboratory waste management and we highly appreciate the commitment and the passion of the senior management of MEPA for this collaborative sustainable initiative, which is a great example to other government institutions in the country as well.”

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94% of consumers in APAC considering the use of emerging payment methods: study

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As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.

“Mastercard’s study finds that people in the Asia Pacific region haven’t just adopted new payment technologies—they’ve made deliberate shifts based partly on necessity, but also on considerations around personal safety, security and convenience, at a time when these concerns were paramount,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard. “Consumers in Asia Pacific have already gained recognition globally for their openness to new technologies and innovation, and these findings confirm that this trend is only set to continue as more digital payment options rapidly become mainstream in this part of the world.”

About Mastercard (NYSE: MA), www.mastercard.comMastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

 

 

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ASPI skyrockets to reach 3 ½ weeks high

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Turnover recorded at a healthy level at Rs. 2.7bn

Bourse premiered the week shooting the index remarkably high to reach a 3 ½ weeks top. ASPI displayed a stepped upward trend and surged in the first hour of trading followed by a sideways movement during mid-day and ended with a gradual uptrend to close at 7,350 gaining 122 points.

Turnover was recorded at a healthy level at LKR 2.7Bn powered by the active retail participation. Food, Beverage & Tobacco sector dominated the turnover closely followed by the Capital Goods sector to generate a joint contribution of 50%. Foreign investors remained net sellers while recording low participation.

-First Capital Research

 

 

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