Sri Lanka’s listed largest public-quoted mini hydropower company, Vallibel Power Erathna PLC, announced yesterday (22) that it has entered into a Power Purchase Agreement with the Ceylon Electricity Board (CEB) on 07 July 2020, for the sale of electricity from their 9.9MW Erathna Hydropower plant.

The signed Agreement is valid till 20 July 2024 and has the provision for extension up to 14 July 2039.

The company reasoned that the delay in making the market disclosure was due to the delay in receiving the confirmation of signing the agreement.

Corporate trailblazer Dhammika Perera is the chairman of Vallibel Power Erathna PLC and also the major shareholder of the company.

Vallibel Power Erathna PLC (VPEL) began its operations in 2001 as ‘Zyrex Power Company Erathna Limited’ to develop and operate mini hydropower projects in Sri Lanka.