ACE Power Generation Ltd.
Sector: Power Generation (CCGT) • Location: Sri Lanka
Source: World Bank Group
ACE Power Generation Anuradhapura and ACE Power Generation Matara were to manage two 20 MW, diesel fired plants in Horana and Matara, respectively. Sponsors of the project were: Aitken Spence and Company (51%); Globeleq, the power sector subsidiary of the Commonwealth Development Corporation (UK)(29%), Wartsila Development and Financial Services of Finland (10%) and Banaras House Ltd. Of India (1
- Status
- Prospective
- Sector
- Power Generation (CCGT), Government, Commercial
- Location
- Sri Lanka
- Updated
- 22 Jul 2026
- Source
- World Bank Group
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Project Information
Participants
Sponsoring Agency | |
Company |
Status
Original status | Active |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | ACE Power Generation Anuradhapura and ACE Power Generation Matara were to manage two 20 MW, diesel fired plants in Horana and Matara, respectively. Sponsors of the project were: Aitken Spence and Company (51%); Globeleq, the power sector subsidiary of the Commonwealth Development Corporation (UK)(29%), Wartsila Development and Financial Services of Finland (10%) and Banaras House Ltd. Of India (10%). The project was financed by debt in the form of a US$24 million term loan and a Rs. 357 million (US$3.72 million) debenture that was to be listed on the Colombo stock exchange. Both had a 7-year term. The project entered service in first quarter 2001 under a 10-year BOO scheme. On Nov. 21, 2007, Globeleq sold its 29% share in both Ace Power Generation Horana (Private) Limited and Ace Power Generation Matara Limited to Pendekar Energy Limtited, a consortium in which Malaysian-based Tanjong had a 55% holding and Al Jomaih Holding Co. of Saudi Arabia had a 45% share. This gave Tanjong and Al Jomaih Holding Co. 16% and 13% effective shares in the power projects, respectively. |
Original sector | Energy |
Budget |
Location
Country | Sri Lanka |
Source
Source | World Bank Group |
URL |
More Details
Record type | Project |
Sector | Power Generation (CCGT), Government, Commercial |
Article published date | 2024-09-24 |
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