27 January 2020 04:28 pm Views - 260
Panasian Power (PAP), one of Sri Lanka’s leading green energy solutions providers, recently received the runner-up award in the infrastructure and utility category at the 16th National Business Excellence Awards (NBEA). The event, which was held at the Hilton Colombo, recognizes those companies that have demonstrated excellence in business while contributing to the economic progress of the country.
Commenting on this achievement Dr. Prathap Ramanujam, Chairman & CEO – Panasian Power, said, “It is an honour to be recognized at this prestigious event. This award is further validation of our leadership in the industry and the hard work and dedication of our employees without whom this would not have been possible.”
“With everything happening around the world it is clear that clean, green energy is the future. It will not only cut costs and carbon emissions but reduce the burden on taxpayers and put Sri Lanka on the path to becoming energy independent. We are proud to play a key role in this journey and support our nation’s long term energy and economic goals.”
Panasian Power currently has a solar portfolio of 6MW and a total generation capacity of over 14MW. The company has a further 5MW of ground solar in the pipeline under the Soorya Bala Sangramaya scheme – which was initiated by the Ministry of Power and Renewable Energy – and another 4MW of rooftop solar under construction as the company continues to expand its strength in solar energy.
“This esteemed award coupled with our consistent performance in recent quarters is further proof that we are on the correct path,” said Gayan Gunawardana, Finance Director – Panasian Power. “Our decision to diversify our income streams by adding solar projects to our portfolio as well as our cost cutting measures has paid dividends and put us on strong footing to compete in the local and international markets. Ultimately, we hope that our efforts will help elevate our industry and take our country closer to a greener future.”
The National Business Excellence Awards was initiated by The National Chamber of Commerce of Sri Lanka in 2004 and is one of the country’s most prestigious award competitions. The NBEA aims to hold up the best examples for Sri Lankan organizations to emulate and to position Sri Lanka as a country with attractive propositions for investment and joint ventures.
Panasian Power PLC, which was incorporated in 2002, owns and operates mini hydropower plants supplying electricity directly to the Ceylon Electricity Board. In 2017, the company diversified into solar energy to meet its target of having an energy portfolio of 30MW by 2021.