LAUGFS Power PLC has strengthened its renewable energy portfolio with the successful commissioning of the Kehelgamu Oya 2 MW Mini Hydro Power Project in Ginigathhena.
The project was developed by PAMS Power, a project company operating under LAUGFS Power PLC. Designed as a run-of-the-river mini hydropower facility, the plant generates clean electricity by utilising the natural flow of Kehelgamu Oya and supplies renewable energy directly to Sri Lanka’s national grid.
The project is expected to generate approximately 7–8 GWh of electricity annually, contributing to Sri Lanka’s renewable energy targets and supporting efforts to reduce dependence on fossil fuel-based power generation while improving long-term energy security.
The facility incorporates advanced hydro mechanical systems supplied by VS Hydro, along with generator systems and electrical panel boards sourced from Germany. According to the company, the use of internationally sourced technology is intended to ensure efficient, reliable, and safe plant operations over the long term.
Commenting on the project, Russell De Zilva stated that the commissioning marks another important milestone in the company’s renewable energy expansion strategy and reflects its ongoing commitment to sustainable infrastructure development and environmentally responsible operations.
The completion of the Kehelgamu Oya project further reinforces LAUGFS Power PLC’s focus on expanding Sri Lanka’s renewable energy capacity through sustainable investments, engineering excellence, and long-term value creation while supporting the country’s transition toward a cleaner and more resilient energy future.
ComBank Group assets cross Rs. 3.5 trillion in Q1 2026
Commercial Bank of Ceylon and its subsidiaries have achieved a historic milestone, becoming the first private sector banking group in Sri Lanka to surpass Rs. 3.5 trillion in total assets.
As at 31 March 2026, the Group recorded total assets of Rs. 3.61 trillion, reflecting a strong increase of Rs. 230 billion (6.81%) in the first quarter alone and a year-on-year growth of 20.34%.
The performance was driven by strong expansion in both lending and deposits. Gross loans and advances rose by Rs. 71.61 billion in the quarter to reach Rs. 2.16 trillion, while deposits increased by Rs. 171.14 billion to Rs. 2.87 trillion. This represents annual growth of 31.35% in the loan book and 19.04% in deposits.
The Group’s net asset value per share also improved to Rs. 203.34, up from Rs. 173.84 a year earlier, reflecting stronger underlying financial strength.
Commenting on the performance, Chairman Sharhan Muhseen said the Group had delivered a strong and balanced start to 2026, supported by disciplined risk management and the momentum built during 2025.
Managing Director/CEO Sanath Manatunge highlighted improvements in provision coverage, which rose above 75%, and a strong CASA ratio exceeding 40%, positioning the Bank among industry leaders in liquidity strength.
Financial performance also remained solid, with gross income rising 12.47% to Rs. 99 billion. Interest income increased by 14.17% to Rs. 82.89 billion, while net interest income grew by 13.44% to Rs. 38.81 billion. Total operating income rose by 9.25% to Rs. 50.84 billion.
Impairment charges declined significantly compared to the previous year, reflecting a high base effect, although the Group maintained a cautious and proactive provisioning approach to manage risks in a volatile global environment.
Overall, the results underline the Commercial Bank Group’s continued strength in balance sheet expansion, asset quality management, and sustainable financial performance.
LAUGFS Power PLC expands renewable energy portfolio with new mini hydro project
