Business
Resus Energy connects 6.0 MW Solar PV power plant to national grid amid raging power crisis
Further expanding its portfolio, Resus Energy PLC, a forerunner in renewable energy, recently connected a 6.0MW ground mounted solar PV (photovoltaic) station to the national grid, a company news release said last week.
“This comes at a crucial time when the country is facing a massive power crisis resulting from fuel scarcity to operate thermal plants, which in turn results from a forex shortage and unaffordable global fuel prices. In this current situation, a higher level of renewable energy in our power generation mix is critical to combat the over-dependency of thermal power and to sustain a more energy secure nation,” it said.
Located in Rideemaliyedda, and connected to the Mahiyanganaya grid substation, the development rights of these projects were secured from the government’s Soorya Balasangramaya tender floated to procure 90 x 1MW Solar PV projects, it added.
“Built at a cost of over Rs. 1 billion with state-of-the-art equipment encompassing tier-1 solar PV panels, top-of-the-range inverters, and other auxiliary equipment, the power station is expected to generate about 9 million units of electricity (9 GWh) annually. This is Resus Energy’s second solar PV site. Now together with its first site in Siyambalanduwa, Resus supplies 8 MW of solar power to the national grid.”
The project was developed under extremely arduous conditions. Navigating through long lockdown periods, the project was badly affected by hyperinflation and scarcity of construction and other input materials; transportation challenges; forex crisis leading to inability to open LCs; and making suppliers settlements. Resus said.
“Yet, Resus delivered the project on time keeping its responsibility and promise to the nation to support its crusade to expand renewable energy. With this one, Resus now operates 11 utility-scale grid-connected power stations with an aggregate capacity of about 24MW and estimated annual energy generation of over 60GWh.”
“I salute our team that worked day and night to make this project a success under most challenging environments with material shortages, transportation restrictions due to fuel shortage, forex crisis, astronomical price increases in input materials leading to cost-overruns, and financing challenges. We still delivered this one despite operating in impossible conditions against all odds. This demonstrates our commitment to partake in fulfilling the country’s dream of becoming an energy secured nation”, said Kishan Nanayakkara, Managing Director, Resus Energy.
He further said that “this country is paying dearly because of renewable energy shortage. We are having blackouts impacting people’s lives and business and at the same time idling thermal plants due to fuel shortage. That’s ironic. Our economy is pushed to a perilous state for having to pay astronomical prices for fuel to even have a limited operation of our thermal plants.
“Resus Energy’s newly connected solar PV station gives a huge economic benefit to the nation, supplying electricity at about Rs.15/- unit for the next 20-years, which is below CEB’s current average selling price, enabling it to make a profit from each unit. Comparatively, the fuel cost of the Puttalam Coal Plant, the cheapest thermal plant, alone is over two and half times of our unit cost and is over six times in the case of diesel and furnace oil plants.
“Sri Lanka being a signatory to the 2015-Paris Agreement on climate change is obligated to the implementation of SDGs in which SDG 7 is provision of Clean and Affordable Energy. Through our Nationally Determined Contributions (NDC) we have also pledged to reduce emissions by 30% with 20% to come from energy sector. Renewable energy is a huge element in meeting our promise to the world made through the Paris Accord and NDCs”, Nanayakkara further said.
The company also invests substantially in communities surrounding each of its projects.
Over the last few years, Resus Energy consistently won awards and accolades for its reporting and sustainability work from CA Sri Lanka and ACCA. It has also won merit award from South Asian Federation of Accountants (SAFA) and has also been a winner of the National Green Awards.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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