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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » HPFL,VPEL and VLL Very Interesting Price to enter

HPFL,VPEL and VLL Very Interesting Price to enter

+2
NANDANA2012
NZ BOY
6 posters

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NZ BOY

NZ BOY
Moderator
Moderator

HPFL,VPEL and VLL Very Interesting Price to enter

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics

Yes, true.. They have still not run..All are profit making.. Also PAP - many new power plants including solar..

Invest-Wise

Invest-Wise
Manager - Equity Analytics
Manager - Equity Analytics

Last two weeks VLL had a line of buyers never seen b4. Today 200,000 buying at 4.80 and 4.90. Generally this trades only maybe 10,000 to 20,000 shares at best a day. Looks like someone's trying to collect and not scared to put the large buyers. Due to heavy rains Oct onwards power companies next quarter results will be super. Interesting to see what happens in the coming days. 😬😬😬

Invest-Wise

Invest-Wise
Manager - Equity Analytics
Manager - Equity Analytics

Last two weeks VLL had a line of buyers never seen b4. Today 200,000 buying at 4.80 and 4.90. Generally this trades only maybe 10,000 to 20,000 shares at best a day. Looks like someone's trying to collect and not scared to put the large buyers. Due to heavy rains Oct onwards power companies next quarter results will be super. Interesting to see what happens in the coming days. 😬😬😬

Invest2018


Manager - Equity Analytics
Manager - Equity Analytics

HPFL going well. Any reason. Will this cross 10.

Arrowrisk

Arrowrisk
Manager - Equity Analytics
Manager - Equity Analytics

VPEL.N
We can expect a dividend by end of Jan 2019

ADVENTUS


Moderator
Moderator

[size=30]Case update-Supreme Court case SC/FR/57/17 on Mini-hydro development dismissed
[/size]
Centre for Environmental Justice and 5 others filed a law suit in the Supreme Court in 2017 against the Sustainable Energy Authority(SEA) and others on  haphazard construction of Mini-hydro power plants without adhering to the  environmental and social safeguards with the case number SC FR 57/2017. The court then requested to appoint a committee which included all stakeholder groups including CEJ. The Committee then prepared a settlement and agreed to conduct a Strategic Environmental Assessment and agree new locations, to suspend new approvals until 2021, to set up CCTV camera to check the environmental flow etc. This was signed by all the parties and submitted to the Court in 2019.
However, then Minister Ravi Karunanayake appointed his relative to the SEA and he said SEA will withdrew from this settlement. Meantime Mini-hydro developers association and one Mini-hydro Company also requested to intervene the case as parties through Attorney Ali Sabri and Attorney Saliya Peris. Court then requested Counsel Shantha Jayawardena to support the case.
The case  was supported on 25th June 2020 before the bench comprised with Soorasena J and Dehideniya J. Senior state counsel then presented their oral objections stating that Sustainable Energy Authority Act has provided enough provisions to remedy situations we have prayed for in the Petition. He further stated that As the Technical Committee is appointed as well, all possible issues could be addressed in each case. He further mentioned that Monitoring mechanism could be formalized by fixing cameras and other electric devices considering the financial conditions of the state, which cannot be interfered by the judiciary. However many questions raised by the judiciary for further explanation.
It was clear that the bench was in the view that the judiciary should not intervene to the duties and obligations of legislature and executive. Finally, considering the arguments placed by both parties, case was dismissed by the court with no cost.(END)

ADVENTUS


Moderator
Moderator

[ltr]CEB back to mini- hydropower: 38 agreements to be extended[/ltr]


[ltr]No decision on diesel plants[/ltr]



[ltr]BY MAHEESHA MUDUGAMUWA[/ltr]


[ltr]The Ceylon Electricity Board (CEB) is shifting back to mini-hydropower by extending a total of 38 agreements shortly in a bid to face an upcoming power shortage, also saying that a decision on diesel power plant agreements had not yet been made, The Sunday Morning learnt.[/ltr]




[ltr]The extensions of the agreements have been delayed for nearly four-and-a-half years due to various reasons and the CEB, by extending the mini-hydropower agreements, is expected to add 75 MW to the national grid.[/ltr]


In addition, the Board is also expected to add a total of 220 MW of hydropower and 30 MW of wind power to the national grid this year with the completion of the Broadlands and Uma Oya Hydropower Project as well as the Mannar Island Wind Farm within this year. Speaking to The Sunday Morning, CEB Chairman Eng. Vijitha Herath said the CEB was trying to minimise the chances of extending expensive diesel power plant agreements which will come to an end next year.

“The agreements will be ended next year and before that, the CEB expects to add maximum capacity through renewable energy as well as cheap hydropower,” he said.

When asked whether the CEB would extend the diesel power plant agreements next year, the CEB Chairman stressed that it would only consider it if the necessity arises, and added: “As of now, the CEB has not taken any decision to extend the diesel power agreements.”

Accordingly, the Government has decided to purchase 128 MW power immediately.

Meanwhile, the Committee on Public Enterprises (COPE) last year alleged that the CEB said that emergency power purchase had been done since 2010 and that the CEB had incurred a loss of Rs. 70, 000 million only during 2017 and 2018 due to emergency power purchases, as revealed by the COPE report.

The COPE said the Treasury had provided a loan of Rs. 29 billion to the CEB during that period and most of those funds had been used for emergency power purchases.


On several occasions, the COPE has also questioned the agreements made between the CEB and the private power companies while purchasing emergency power. In the meantime, the Public Utilities Commission of Sri Lanka

(PUCSL) over the past few years canvassed against the purchasing of emergency power, claiming it should only be limited to calamitous situations with the approval of the Cabinet.

[ltr]Meanwhile, PUCSL Director of Corporate Communications Jayant Herat stressed that the CEB could not extend diesel power agreements under Section 43 of Sri Lanka Electricity Act.
“The PUCSL did not grant approval for the extension made in 2018,” Herat added.[/ltr]

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