The Board of Investment granted investment approval to Powergen Lanka Limited to set up a 10 MW wind power plant in Puttalam with an investment amounting to US$ 18.55 million from India
, the BOI announced yesterday.
`The agreement signed with Powergen Lanka Limited for a project to generate wind power will establish the plant in Uppudaluwa, Puttalam. The project representing an investment of US $ 18.55 million is an Indian investment. The venture is expected to commence operations by June 2011. The project will utilise seven 1.7 MW wind turbines for the power generation process. Narasimhan Ramkhumar, Director of Powergen Lanka stated that around 75% of the power generation from the wind turbines during the year will be in April to October,` the BOI said in a statement.
Directors of the company Mr. Rohan Iriyagolla and Mr. Narasimhan Ramkhumar signed the agreement on behalf of the company. Jayamapathi Bandaranayake, Chairman / Director General signed the agreement on behalf of the BOI and formally presented the BOI Certificate of Registration to the investors.