Aitken Spence acquires Waltrim Energy for Rs.900mn

Aitken Spence PLC yesterday said it acquired 100 percent of shares of Waltrim Energy Limited, a sub-subsidiary of Sunshine Holdings PLC, for a total consideration of Rs.900 million.

According to a stock exchange filing by Aitken Spence, Waltrim Energy operates three hydropower generation plants in Nuwara Eliya, with a total capacity of 6.6 MW under three separate wholly-owned subsidiaries, namely Waltrim Hydropower, Upper Waltrim Hydropower and Elgin Hydropower. Meanwhile, Sunshine Holdings PLC said its subsidiary Sunshine Energy has divested the entirety of its shares, amounting to 60.59 percent of the shareholding in Waltrim Energy, for a sales consideration of Rs.545.3 million, on April 7, 2021.

Apart from its 100 MW thermal power plant, Aitken Spence already operates 3 MW wind power plant, 2.5 MW hydropower plant and 10 MW waste-to-energy power plant.