Vallibel Kuruwita SHPP

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Alternate Power Systems (Pvt.) Ltd., subsidiary of Vallibel Group developed the 6.5MW run-of-river hydropower plant, Adavikanda, Kuruwita. Expected annual output was 12.63-19.93GWh. The project consisted of 3 turbines of 2.4kW each. The project was to sell its output to the national grid (Ceylon Electricity Board). The project signed construction contracts in January 2008, including penstock clearing, transportation and painting. Commercial operation commenced in October 2009. Turbine manufacturer was Gilbert Bilkes & Gordon, from the UK. The initial feasibility study was completed in April 2005, and bank approval for financing the projectw as received in May 2005, additional financing was approved in November 2007. Equipment supply confirmation letters were completed in February 2008. The expected load factor was 35%. Expected tariff was LKR7.92 expected to increase by 5.33% annually. Land lease costs were 0.11 million annually (US$60,000). The project was tax exempt for the first 5 years. The project applied for UNFCCC CDM financing and was registered in August 2010. Financial closure date was unknown, but based on 25% of construction ESTIMATED at June 2008. Total project cost was estimated at LKR 895 million (US$6.95 million) (451 million in debt (US$3.5 million), 444 million in equity (US$3.45 million)). The interest rate on the loan was 16.82%, with a 6 year tenor. Coordinates are: N 6o 49’ 56”, E 80o 25’ 27”. http://cdm.unfccc.int/filestorage/X/6/A/X6A0MTWROG179BPQE345VZFL8KNHCI/3531%201%20MR.pdf?t=MnJ8bWV0eXp3fDCIFB70No9T6Kdt5Am-P-Rw http://cdm.unfccc.int/filestorage/6/H/M/6HMKDOAC2QVJUPY0XZ9GSE431NRI5W/APSPL%20PDD.pdf?t=V3R8bWV0eTczfDAoTbs3HoACIngRDFrkErYU