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Aitken Spence Power is an independent power producer in Sri Lanka. Our portfolio of thermal power plants includes two 20 MW plants and a third 100MW plant and generates 10% of the national grid. All three power plants were built and operated with the partnership of global leaders in power generation, technology and operation.
Aitken Spence as the principal promoter of the two 20MW plants invested the majority equity (51%) with CDC Globeleq of UK (29%), Wärtsila Development and Services of Finland (10%) and Banaras House of India (10%) being the other shareholders. The total cost of each project was estimated at US$ 18 million.
In January 2004, Aitken Spence joined up with Caterpillar Power Ventures of USA on a 50:50 joint venture to build the 100MW power plant, which commenced operations in April 2005. |
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| Currently, Aitken Spence holds 74% and German giant DEG 26% of the shares. DEG, a member of KfW banking group, is one of the largest European development finance institutions for the promotion of the private sector. The total cost of this project was estimated at US$ 60 million. |
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