Panasian Power to acquire a hydropower firm

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Panasian Power to acquire a hydropower firm

Posted by author 1 year ago on Jun 12th, 2012 12:55 PM and filed under Business & Finance, Markets, Stock Market. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Panasian Power PLC has decided to acquire the Padiyapelella Hydropower Private Limited for a consideration of Rs. 910 million.

The Board of Directors of the Panasian Power has approved the move, which the company said is aimed at enhancing its power generation capacity.

Company, in a stock market filing said Padiyapelella Hydropower Company already has a 3.6 Megawatt capacity power plant which is nearing completion, while it also has a license to develop an additional 3 Megawatt plant.