Aitken Spence PLC reiterates their commitment to local and global sustainable development goals by acquiring Sagasolar Power (Private) Ltd, from the major shareholder LOLC Group for Rs. 1.4 billion. Moreover, it is in line with Sri Lanka’s power and energy strategy to increase power generation from the renewable energy sector. This investment from Aitken Spence.
Aitken
Spence PLC reiterates their commitment to local and global sustainable
development goals by acquiring Sagasolar Power (Private) Ltd, from the major
shareholder LOLC Group for Rs. 1.4 billion. Moreover, it is in line with Sri Lanka’s power
and energy strategy to increase power generation from
LOLC Group achieves first-ever historic profitability in Sri Lanka’s corporate sector, recording a stunning Rs. 57 Bn in PBT
May, 31, 2021
Sri Lanka’s most valuable and globally diversified financial conglomerate, the LOLC Group, posted a record-breaking performance for the financial year ending 31st March 2021, achieving unprecedented bottom line results of Rs. 57Bn in Profit Before Tax (PBT), and a Profit After Tax (PAT) of Rs. 53Bn - a first for any corporate in the country. By achieving profits on this massive scale in the history of Sri Lanka’s corporate world, the Group once again consolidated its position as the top most profitable diversified corporate in the country, three years in a row - establishing LOLC as one of the largest Micro and Small & Medium Enterprises (MSME) platforms in the world.
Dec 22, 2016 (LBO) – Sri Lanka’s first 10MW grid connected solar power project implemented by the private sector was commissioned on Wednesday, with DFCC Bank acting as lead financiers to the project.
Promoted by Sagasolar Power (Pvt) Ltd, the utility-scale power project located in Buruthankanda, Hambantota is expected to add 19GWh of clean energy to the national grid annually for upwards of 25 years.
“The successful commissioning of this project is thus a major milestone in the harnessing of Sri Lanka’s indigenous non-conventional renewable energy resources,” DFCC Bank said in a statement.
In financing this project, DFCC Bank partnered with Commercial Bank of Ceylon and Hatton National Bank as co-financiers, and with the European Investment Bank to source green funding.