LTL Aranayake SHPP

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LTL Holdings, via its subsidiary Nividhu, was developing the 4.0MW Aranayake mini hydropower plant. The project consists of two 2MW turbines, supplied from Germany. Lakdhanavi Limited was a fully owned subsidiary of Lanka Transformer Limited (LTL). LTL was owned by Ceylon Electricity Board (majority shareholder), ABB Group (27%) of Switzerland (Asea Brown Boveri (ABB)) and an Employees Trust (see project 3814). SN Power held 30% of the equity. LTL Holdings held 48%; LAnka Ventures (venture capital firm) held 16%; Employees Trust held 4%. Construction started in August 2003. The project commissioned in May 2005. Output was sold to the Ceylon Electricity Board, under a 15 year PPA starting in 2004. Total cost was US$3.6 million. Financial closure date was unknown, but ESTIMATED here was February 2004 (25% completion rule). The project applied for UNFCCC CDM financing together with the Belihul Oya plant, project 7001. Financing was provided by a consortium of Sri Lankan banks (non-recourse). http://www.lankatransformers.com/ltl-hydro-power.html http://www.snpower.com/projects-and-plants/sri-lanka/assupiniella/