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01 September, 2011 06:57 AM Source:

Recently listed Browns Investments plans to ramp up operations at its hydropower plants by leveraging on the firm's plantation assets, a company release said.

"By harnessing Hydropower potential on the estates, the Company hopes to generate a total of 16 megawatts of electricity by 2013, which will be supplied to the national electricity grid," Browns Investments group chief executive Murali Prakash told shareholders in the firm's annual report.

The company, part of the Browns group, has interests in the plantation sector through its subsidiaries Pussellawa and Mathurata held via its stake in Free Lanka Capital Holdings.

Pussellawa and Mathurata Plantations Limited consist of 31 tea estates and 9 rubber estates in the island's central province.

Delta and Sanquhar, two of the firm's hydropower plants located on the estates, currently generate a capacity of 3.2 megawatts.

Revenue from the firm's hydropower segment for the financial year ending March 2011 spiked 1239 percent year on year to Rs 36.9 mn while overall firm revenues grew 23 percent to just over Rs 3 bn.
The hydropower segment recorded profits of Rs 17.8 mn for the period, reversing losses of Rs 4.9 mn from a year back. More...

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