Sri Lanka’s LTL Holdings is set to raise up to Rs. 20 billion through an initial public offering (IPO), subject to regulatory approvals, in what could become the largest IPO in the history of the Colombo Stock Exchange (CSE). The company, an affiliate of the Ceylon Electricity Board, initially focused on manufacturing transformers but later
Ceylon Electricity Board Reports Rs.34.35 Billion Profit for 2Q24 Amidst Tariff Reductions The state-run Ceylon Electricity Board (CEB) announced a significant profit of Rs.34.35 billion for the quarter ending June 2024, marking a 24.4 percent increase from the same period last year. In the first half of 2024 (1H24), CEB achieved a remarkable turnaround with
The Public Utilities Commission of Sri Lanka (PUCSL) has decided to keep the payments for rooftop solar power plants unchanged, despite recent revisions to rates for renewable energy projects. According to a circular from Ceylon Electricity Board (CEB) General Manager Dr. Narendra Silva, the rate of Rs. 37 per unit for solar electricity, set in
Sri Lanka will set the rate for rooftop solar electricity at 27 rupees per unit starting July 2024, as announced by Power Minister Kanchana Wijeskera. This rate is intended to ensure profitability for solar operators while considering recent global price changes and local economic conditions. Previously, the rate was set at 37 rupees per unit
Sri Lanka will gradually reduce the workforce of the state-run Ceylon Electricity Board (CEB) from the approved 26,000 cadres through a Voluntary Retirement Scheme (VRS) and by not filling positions left vacant by retirees unless necessary, according to Energy Minister Kanchana Wijesekera. Minister Wijesekera has previously stated that the CEB could be effectively managed with
Power and Energy Minister Kanchana Wijesekera announced a revised payment system for rooftop solar panels and other renewable energy projects, effective from July 1 this year. The payment method for projects initiated before this date remains unchanged. The new 20-year fixed tariff for rooftop solar panel projects is Rs. 27.06 per unit for installations up