Sri Lanka’s largest power-plant to fall into US hands, warns AKD

Sri Lanka’s largest power-plant to fall into US hands, warns AKD

Sri Lanka’s largest power-plant to fall into US hands, warns AKD

Written by Zulfick Farzan

13 Jul, 2021 | 2:58 pm

COLOMBO (News 1st); There is an attempt to hand over all the operations of the Yugadanavi Power Plant in Kerawalapitiya as well as the supply and storage of LNG, to a US-based firm, alleged JVP Leader Anura Kumara Dissanayake on Tuesday (13).

Speaking to reporters Dissanayake said based on this attempt a Cabinet Memorandum was presented to the Cabinet of Ministers by the Finance Minister, recently.

‘Thereby, the Treasury Secretary had signed an agreement with the New York-based gas-to-power developer New Fortress Energy to construct a new offshore LNG terminal,’ he said.

New Fortress already announced that it has signed a Framework Agreement with the Government of Sri Lanka to supply natural gas or LNG to the existing 300 MW Yugadanavi Power Plant.

Sri Lanka’s energy market is very small and the person who takes control of the energy market will control Sri Lanka and the key component to this take over is the electricity sector, warned Dissanayake.

New Fortress Energy Inc. announced that it is negotiating the purchase of the Government’s 40% stake in the company that owns the Yugadanavi Power Plant in Kerawalapitiya.

According to Anura Kumara Dissanayake Cabinet has given the green light for change in stake of the Yugadanavi Power Plant in Kerawalapitiya.

The Kerawalapitiya Power Complex consists of 300 MW in operation today and is ultimately expected to grow to over 1,000 MW by 2025 according to this plan, said Dissanayake adding the power plant will eventually become the largest in Sri Lanka and 40% stake is to be given to a US firm.

He said this act is being committed by a Finance Minister who is also a US citizen.

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