The Yugadanavi Power Plant at Kerawalapitiya, Wattala is the second largest power plant in Sri Lanka. Construction of the power plant with a capacity of 300 MW commenced in November 2007 and was carried out in two phases. Construction of the first phase, which will generate 200 megawatts of electricity, was completed in 10 months, while the second phase of the power plant was completed in February 2010.
The power plant received a loan of 152 million Euros from HSBC and covers an area of about 25 acres and owns two GE Frame 9E gas turbines with a capacity of 100 MW and one GE steam turbine. The plant generates 1,800 gigawatt of electricity annually. According to the internet sources, 25,000 cubic meters of sea water is used for the cooling system of the power plant.
Fifty-one percent shares of the Yugadanavi power plant is owned by the Ministry of Finance and the Cabinet approved the proposal to sell these shares to an American company a few weeks ago. Accordingly, the Minister of Finance has signed an agreement to sell 40% of the shares to an American company.
Forty percent from the 300 megawatt of Yugadanavi power plant will be sell to the American New Fortress Energy Company. This power plant is powered by LNG (LNG) and is to be set up as a gas-fired power plant and the conversion will be handed over to an American company.
The proposal to sell the plant to an American company without calling for tenders has been praposed as an unsolicited proposal.
When we inquired from a CEB trade union, they said that, Yugadanavi power plant is the stronghold of the electricity power mafia and that there is a lot of fraud and corruption going on here. Then there is nothing wrong about sells some shares to America.
-Shani-