{"id":3978,"date":"2018-01-10T12:57:29","date_gmt":"2018-01-10T07:27:29","guid":{"rendered":"http:\/\/www.cebeu.lk\/cebeuw\/?p=3978"},"modified":"2018-01-10T12:57:29","modified_gmt":"2018-01-10T07:27:29","slug":"sri-lankas-lvl-energy-fund-starts-trading-firm-plans-to-go-global","status":"publish","type":"post","link":"https:\/\/www.cebeu.lk\/?p=3978","title":{"rendered":"Sri Lanka&#8217;s LVL Energy Fund starts trading; firm plans to go global"},"content":{"rendered":"<p>https:\/\/www.reuters.com\/article\/sri-lanka-lvl-energy-fund-listing\/sri-lankas-lvl-energy-fund-starts-trading-firm-plans-to-go-global-idUSL4N1P42PD<\/p>\n<div class=\"ArticleHeader_container_2tb_t\">\n<div class=\"ArticleHeader_upper-container_3g5eM\">\n<div class=\"foreground\">\n<div class=\"TwoColumnLayout_container_385r0 TwoColumnLayout_fluid-left_3DYLH\">\n<div class=\"TwoColumnLayout_column_1uZPg TwoColumnLayout_left_qEP9d\">\n<div class=\"ArticleHeader_content-container_3Ma9y\"><\/div>\n<\/div>\n<div class=\"TwoColumnLayout_column_1uZPg TwoColumnLayout_right_3kxIR\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"lower-container\">\n<div class=\"TwoColumnLayout_container_385r0 inner TwoColumnLayout_fluid-left_3DYLH\">\n<div class=\"TwoColumnLayout_column_1uZPg TwoColumnLayout_left_qEP9d\">\n<div class=\"ArticleHeader_content-container_3Ma9y\">\n<div class=\"BylineBar_first-container_1wTRC ArticleHeader_byline-bar_2egLq\">\n<div class=\"BylineBar_border-wrap_2Jm9i\">\n<p class=\"BylineBar_byline_31BCV\">Reuters Staff<\/p>\n<div class=\"BylineBar_last-container_1J6-E\">\n<div class=\"BylineBar_share-container_10gSP\">\n<div class=\"SocialTool_container_2JNxB\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"TwoColumnLayout_column_1uZPg TwoColumnLayout_right_3kxIR\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"TwoColumnLayout_container_385r0 StandardArticle_content_C2jxE TwoColumnLayout_fluid-left_3DYLH\">\n<div class=\"TwoColumnLayout_column_1uZPg TwoColumnLayout_left_qEP9d\">\n<div class=\"StandardArticleBody_container_17wb1\">\n<div class=\"StandardArticleBody_body_1gnLA\">\n<p>COLOMBO, Jan 9 (Reuters) &#8211; LVL Energy Fund Pvt Ltd debuted higher on the Colombo Stock Exchange on Tuesday after listing a 20 percent stake, and the Sri Lankan energy firm said it plans to expand into Nepal, Bangladesh and East Africa.<\/p>\n<div class=\"DPSlot_container_2dHIN StandardArticleBody_dp-slot-inline_eUPBt\">\n<p>A subsidiary of Lanka Ventures Plc and the 298th firm to be listed on the bourse, LVL Energy Fund raised 1.2 billion rupees ($7.81 million) through the listing.<\/p>\n<\/div>\n<p>The company will use 720 million rupees for its power projects in Sri Lanka, Bangladesh and Nepal, and the remainder 480 million rupees to service part of its debt.<\/p>\n<p>The company had a debt of more than 700 million rupees, as of March 31, 2017.<\/p>\n<p>The company will start operations in East Africa and also invest in solar power projects as Sri Lanka has shifted its preference towards renewable and LNG power generation from the current thermal, coal and hydro power, K Maheshwaran, acting chief executive officer, told Reuters after the stock\u2019s listing.<\/p>\n<p>\u201cHydro potentials are getting diminished, so doing any big-size hydro project in Sri Lanka is a dream now,\u201d he added.<\/p>\n<p>\u201cThat\u2019s why we have to flow with the wind and go for solar and other external markets such as Bangladesh, Nepal and East Africa to get better returns.\u201d<\/p>\n<p>The company operates five hydro plants, two wind and thermal power plants in Sri Lanka and Bangladesh. It also plans to invest into a 10 MW power plant in Nepal, 1.4 MW and 2.5 MW hydro power plants in Sri Lanka.<\/p>\n<p>Shares of LVL Energy Fund rose as much as 10 percent, before ending up 2 percent at 10.10 rupees a share, compared with the offer price of 10 rupees.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>https:\/\/www.reuters.com\/article\/sri-lanka-lvl-energy-fund-listing\/sri-lankas-lvl-energy-fund-starts-trading-firm-plans-to-go-global-idUSL4N1P42PD Reuters Staff COLOMBO, Jan 9 (Reuters) &#8211; LVL Energy Fund Pvt Ltd debuted higher on the Colombo Stock Exchange on &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-3978","post","type-post","status-publish","format-standard","hentry","category-recent-news"],"_links":{"self":[{"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=\/wp\/v2\/posts\/3978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3978"}],"version-history":[{"count":1,"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=\/wp\/v2\/posts\/3978\/revisions"}],"predecessor-version":[{"id":3979,"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=\/wp\/v2\/posts\/3978\/revisions\/3979"}],"wp:attachment":[{"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cebeu.lk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}