NDB granted 2 long term facilities aggregating to Rs.3.3 Billion towards construction and commissioning of two wind power projects in Vallimunai and Puloppalai of the Killnochchi District. The two projects Joule Power (Pvt) Limited and Beta Power (Pvt) Limited were successfully commissioned in December 2014 and are the first ever wind power projects set up in the Northern region, following the cessation of the 30 year internal conflict.
Establishment of the two wind power projects is expected to support the economic development in the northern region; where industrial activity has been thwarted due to the lack of connection from the national power grid during the conflict.
Commenting on the Bank’s involvement, Chief Executive Officer of NDB Mr. Rajendra Theagarajah said, “Both these projects are of national importance and will give the opportunity for NDB to contribute to the infrastructure development of the country. With the Sri Lankan economy growing steadily along with revived economic activities, the demand for energy has increased significantly. A reliable source of power is a necessity to re-energize economic activities in North and East. Therefore, we see this pioneering effort as both vital and timely for the nation’s economic growth agenda. As a bank dedicated for national development, we are pleased to be able to contribute towards this national endeavour“.
Commenting on the two projects the Chief Executive Officer of Joule Power and Beta Power, Mr. Manjula Perera said “these two new projects will add approximately 60 GWh green energy annually to the national grid and also will electrify approximately 100,000 houses while supporting the much needed economic development in the northern region”.
NDB granted 2 long term facilities aggregating to Rs.3.3 Billion towards construction and commissioning of two wind power projects in Vallimunai and Puloppalai of the Killnochchi District. The two projects Joule Power (Pvt) Limited and Beta Power (Pvt) Limited were successfully commissioned in December 2014 and are the first ever wind power projects set up in the Northern region, following the cessation of the 30 year internal conflict.Establishment of the two wind power projects is expected to support the economic development in the northern region; where industrial activity has been thwarted due to the lack of connection from the national power grid during the conflict.Commenting on the Bank’s involvement, Chief Executive Officer of NDB Mr. Rajendra Theagarajah said, “Both these projects are of national importance and will give the opportunity for NDB to contribute to the infrastructure development of the country. With the Sri Lankan economy growing steadily along with revived economic activities, the demand for energy has increased significantly. A reliable source of power is a necessity to re-energize economic activities in North and East. Therefore, we see this pioneering effort as both vital and timely for the nation’s economic growth agenda. As a bank dedicated for national development, we are pleased to be able to contribute towards this national endeavour“.Commenting on the two projects the Chief Executive Officer of Joule Power and Beta Power, Mr. Manjula Perera said “these two new projects will add approximately 60 GWh green energy annually to the national grid and also will electrify approximately 100,000 houses while supporting the much needed economic development in the northern region”.
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