SLFP concerned over controversial Kerawalapitiya Deal

by Zulfick Farzan 24-09-2021 | 11:29 AM

COLOMBO (News 1st); General Secretary of the Sri Lanka Freedom Party & State Minister, Dayasiri Jayasekera warns that 50% of the country's electricity generation falling into the hands of a single entity, would have serious consequences.

The SLFP plans to convey its position to the President, upon his return to the country after concluding his visit to the US.

Jayasekera, a member of the SLFP which is part of the ruling coalition, said the government was not elected to sell off the resources of the country, but to protect them.

New Fortress Energy Inc. announced on 22nd September that they have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (“WCP”), the owner of the 310 MW Yugadanavi Power Plant based in Colombo, along with the rights to develop a new LNG Terminal off the coast of Colombo, the capital city.

As part of the transaction, New Fortress will have gas supply rights to the Kerawalapitya Power Complex, where 310 MW of power is operational today and an additional 700 MW scheduled to be built, of which 350 MW is scheduled to be operational by 2023.

New Fortress will acquire a 40% ownership stake in WCP and plans to build an offshore liquified natural gas (LNG) receiving, storage, and regasification terminal located off the coast of Colombo.

Janatha Vimukthi Peramuna Leader Anura Kumara Dissanayake claimed that the Government signed an agreement with New Fortress Energy Inc. past midnight on Friday (17), transferring the Treasury’s 40% stake in the Yugadanavi Power Station in Kerawalapitiya to the company.

Leader of the Opposition Sajith Premadasa on Thursday (23) warned that the transfer of control of the Kerawalapitiya Yugadanavi power plant to an overseas company puts Sri Lanka’s energy sector at risk.

At the same time leaders of the coalition have been holding meetings to discuss their position on the controversial Kerawalapitiya Deal.

Earlier this week they met at the Communist Party of Sri Lanka office and then called for an emergency meeting at the residence of Former President Maithripala Sirisena and also met with Prime Minister Mahinda Rajapaksa, thereafter.