Vidullanka PLC is set to commission its second foreign project in Uganda with the construction of 6.5MW Bukinda Small Hydropower plant.
The construction of the project is expected to commence during Q4 of the financial year 2017/18. Company Chairman Osman Kassim told company’s shareholders.
To this end, the company has taken steps to acquire Timex Bukinda Hydro (U) Ltd, which is awaiting regulatory approval. The entity was formed to construct and operate the project.
As part of company’s growth plan to broaden its revenue streams and enhance its financial stability, Vidullanka commissioned its first foreign project in Uganda, ‘Muvumbe SHPP’ to deliver 31.42 GWh of clean energy to the national grid of Uganda.
Vidullanka is also in the process of constructing a 1.4MW mini Hydropower project in Badulla district, which is expected to be completed in a few months. The project is expected to supply 5.5GWh of clean electricity to the grid upon completion.. Moreover, the company in a bid to diversify its revenue sources is planning to make calculated investments in the coming year in biomass, solar and wind power.
According to Kassim, the company is open to embrace new renewable energy sources and innovative technologies which would enable them make cost effective and commercially viable electricity generation.