Company purchased to build 2 MW plant in Sri Lanka
Laugfs Power Limited acquired Pams Power (Private) Limited for LKR200 million (US$1.38 million) to build a 2 MW small hydropower in plant in Sri Lanka.
This transaction was announced in a corporate disclosure to the Colombo Stock Exchange. The disclosure stated Laugfs Power acquired the total issued shares of the company on Feb. 10.
Pams Power holds all rights for the development and operation of the facility, located in Kalaweldeniya, Polpitiya.
The plant is expected to cost LKR500 million ($3.45 million) to develop and is anticipated to be commissioned in early 2017. Expected annual generation is 7.18 GWh, to be supplied to the national grid.
Laugfs Power, a subsidiary of Laugfs Gas PLC, operates small hydro projects at Ranmudu Oya, Balangoda.
The Sri Lankan government is in the midst of ongoing efforts to reduce the country’s dependence on imported fuel by cultivating its hydroelectric power resources.
It says the economically feasible small hydro potential in the country is estimated to be 400 MW.
Enel enters Peru with 20 MW Ayanunga plant
Italian renewables developer Enel Green Power SpA is making its first foray into the Peruvian hydroelectric market through a 20-year energy supply contract with the country’s government.
The deal will see EGP subsidiary Enel Green Power Peru invest about US$400 million into a trio of renewable energy plants, which include the 20 MW Ayanunga hydropower project.
The hydropower project will be located in Peru’s central Huanunco Department and is expected to be in operation by 2018.
Enel Green Power won the supply tender through the Organismo Supervisor de la Inversion en Energia y Mineria (OSINERGMIN).
The energy and mining investments agency sought proposals in September for plants that would increase Peru’s small hydropower output by 450 GWh per year, reflecting the country’s efforts to increase its share of renewables up to 5% from the current 2% by 2018.
“These results also illustrate how renewable energy can be competitive with traditional generation even in geographies where its development is still in the early stages,” EGP Chief Executive Officer Francesco Venturini said. “Renewables provide diversification in a country’s energy mix, making the energy system more resilient and better focused on addressing the challenges posed by climate change.”
Transeastern acquires three small Romanian plants
Canadian financial group Transeastern Power Trust has signed a letter of intent to acquire three small hydropower projects in Romania.
Transeastern did not specify the names of the plants, but said the trio have a combined capacity of 3.65 MW and were all refurbished in recent years after more than two decades of operation.
The US$5.7 million purchase price will be payable as 50% in cash and 50% in Transeastern units at a deemed issuance price of $1.13 per unit, calculated in euros in accordance with the applicable exchange rate on the day immediately prior to the closing date.
“The proposed acquisitions of the hydro projects represent another critical milestone in the evolution of our company,” Transeastern Chief Executive Officer J. Colter Eadie said.
Terms of the deal are still subject to technical and legal due diligence, although Transeastern said it expects the acquisition to close by the end of April.
Voltalia to develop projects in Morocco
Less than a year after opening a subsidiary in Rabat, the capital city of Morocco in Western Sahara, Voltalia SA filed authorization applications to develop four hydroelectric power plants for a total installed capacity of 40 MW.
Financial details of the deal and specific site locations were not disclosed. The applications were filed in early February.
Voltalia is a renewable electricity producer out of Paris, France, that also has offices in Greece, Brazil and French Guiana.
According to the company, it develops, builds, operates and owns power stations and with regard to hydroelectricity said, “Voltalia concentrates on small and medium sized hydroelectric power plants installed ‘on the fly,’ without an artificial reservoir of important accumulation, which distinguishes from large dams.”
The company operates the 4.5 MW Mana River station in French Guiana and is beginning construction on a 7.5 MW plant on the north coast of Brazil in the city of Oiapoque on the Oiapoque River. The plant is expected to be commissioned in 2021.