Vallibel Power recognized at ACCA Sustainability Awards

Published on Sunday Times on March 3, 2013

Vallibel Power Erathna PLC (VPEL) is the largest public quoted mini hydropower company in Sri Lanka controlled by entrepreneur Mr. K. D. Dhammika Perera. With three mini hydropower plants in Kuruwita, Rathnapura and Norton Bridge, the company provides a cumulative capacity of 21.85 MW. Annually the company generate and dispatch approximately 80 GWh of electricity to the Ceylon Electricity Board with reduced carbon footprint approximately 50,000 metric tons of CO2 emissions annually. Vallibel Power is another company decorated at the recent ACCA sustainability awards. Following are the excerpts of an interview with Jt. Chief Executive Officer Russell de Zilva.


Q. What is the VPEL concept on sustainability?

      Russell - Concept of Sustainability of Vallibel Power Erathna PLC is based on the right balance of economic, environmental, and social considerations to business decisions. We strive for continual growth by operating within the framework of our Sustainability Principles. These are Governance, Economic Performance, Stakeholders, and Environment. These pillars are what keep VPEL sustainable!

Q. In what ways does VPEL manage these principles?

      Russell - We value ethics and integrity in our business. We comply with legal requirements and assure that our economic performance drives long term success of our business. We also value our stakeholders. Our professional and ethical relationship with CEB, our employees, our community, and other external stakeholders assures the sustainability of our business. Considering our responsibility towards Environment, we are committed to provide cleaner energy generation with minimized environmental impact.

Q. How is this concept, sustainability, put into practice and what steps do you take to address sustainability?

      Russell -At Vallibel Power Erathna PLC, we ensure sustainability of the business in every stage of our operation, Design and Development Stage, Construction Stage, and Electricity Generation Stage.

At the Design and Development Stage, we analyze our ability to initiate the plant in a sustainable manner. We carry out a range of assessments during the analysis process and if we detect a failure in any assessment, we would immediately discontinue the project. We ensure that we are complied with all regulatory requirements for the establishment of the project. Meeting regulatory requirements is a time consuming process, but company coordinates with Governmental Authorities for necessary approvals to initiate the project. In case of a variation to the requirements, we'd suspend the project initiation.

We cannot ignore the requirements of our community during the design and Development stage. We need to ensure that the day to day life of the community is not compromised. To do this, we analyze the impact of the project to the community of the project area including their water consumption requirements, residential requirements, occupational requirements and other requirements of their routine life that may be affected by the project implementation. We consider re- habilitation requirements and impact of such requirements to the community.

During D& D stage, we give priority to the Environment. VPEL has devised various tests to assess the impact to the environment with the project initiation. For example, to make sure the ecological system is not disturbed by our operation, we facilitate a natural flow of stream. We also assess if we endanger special habitants, endemic species, and threatened species of flora and fauna of the area. We also consider geological aspects such as landslides and damage to residences of the project area. Our analysis evaluates the rock blasting techniques and selects the most appropriate and less impacting technique, for example, chemical blasting.

Q.In most instances, things are different in actual scenario. Have you encountered such difficulties at operation?

      Russell - Well, during the Construction Process, we usually encounter challenges with regard to the community, and environment. But we take all action necessary to overcome these challenges. We make sure that the project construction is carried out with minimum impact to the environment and community. We do this by assessing the impact of our machinery and vehicles to the environment and community. Examples of such impacts are noise level, dust level etc.

During construction process, VPEL takes measures such as re-planting trees, and managing waste water and other waste in the construction area to ensure sustainability. Community of the project area is always benefited with VPEL activities. During construction, we provide job opportunities to community. These individuals, who are employed, are given necessary training to develop their skill level. They are also given all facilities required in the work environment. As a Corporate Social Responsibility initiative, VPEL constructs access roads to project areas.

Q. Is there a significant role for the company to play during the generation of electricity?

      Russell - Of course! Once the Mini Hydro Power Project is established, we need to continually strive to maintain a sustainable business. VPEL do this through the effective monitoring system that is in place. Our sustainability monitoring system sets goals, measure performance and manage change continually. While managing an ethical and transparent governance body, we ensure that VPEL is economically sound. VPEL always respects and values its stakeholders, both internal and external, and the company always aims at providing a better service. Periodically, we assess significant environmental aspects of the business and implement projects to minimize the impact of these significant environmental aspects. So, concept of sustainability of VPEL is an on-going process.

Interviewed by: Ashwin Hemmathagama

 Vallibel Power Mini Hydro Power Project qualified for CDM

It is with great pleasure that Country Energy (Pvt) Ltd wish to inform our shareholders that we were able to register under United Nations Framework Convention on Climate Change (UNFCCC). Our consultant, First Asia Carbon Lanka (Pvt) Ltd of Singapore tediously followed up the process and they were able to complete the registration process by 06th December 2013. (Webpage link of CDM registration


 Yet another Achievement by Vallbel Power

The Institute of Chartered Accountants of Sri Lanka, who is the national accounting body organised its 49th Annual Report Award Ceremony on 10th December 2013 at Waters Edge, Battaramulla.


 Inter-Site Staff Cricket Tournament - 2013

Vallibel Power Erathna PLC, organized inter site staff cricket tournament at Eheliyagoda Public Ground on 30th November 2013 representing six teams from employees of all mini hydro power projects established by the Company. This inaugural cricket match comprised Eleven Side League Cricket Tournament.


 Vidooka Art Compitition - 2013

Vidooka Art Competition was successfully held for the second consecutive year to recognize the young drawing talents of our rural.


 Change of Directorate

Ms. Dona Shyamalie Nishanthi Weerasooriya has been appointed as an Alternate Director to Mr. K D D Perera with effect from 11th November 2013.

 The Annual General Meeting of Vallibel Power Erathna PLC

The Twelfth Annual General Meeting of Vallibel Power Erathna PLC was held at The Kingsbury, Colombo 01 on Thursday, 27 June 2013 at 9.30 a.m. The meeting was chaired by the Director Mr. Nimal Perera.

The following resolutions were passed with the unanimous consent of the Shareholders.

1) Receive and consider the Annual Report of the Board of Directors, Financial Statements of the Company &     Group for the year ended 31 March 2013 together with the Report of the Auditors thereon.

2) Re-elect Mr. S E De Silva who retires by rotation in terms of Article 25 (10) of the Articles of Association,
    as a Director of the Company.

3) Re-elect Mr. H Somashantha who retires by rotation in terms of Article 25 (10) of the Articles of Association,
    as a Director of the Company.

4) Re-elect Mr. P B Perera who retires by rotation in terms of Article 25 (3) of the Articles of Association,
    as a Director of the Company.

5) Re-appoint Messrs Ernst & Young, as Auditors of the Company for the ensuing year and to authorize the
    Directors to determine their remuneration.

6) Authorize the Directors to determine and make donations for the year ending 31 March 2014 and up to the
    date of the next Annual General Meeting.

 Interim Dividend for the year ending 31st March 2013

The Company has announced Rs.0.25 (Twenty five cents) per share, Interim (Tax Free) Dividend for the year ending 31st March 2013. The dividend payment date is 19th February 2013 and XD date is 8th February 2013. Total value of the Dividend is Rs.186.7 Million.

 Change of Directorate

Mr. W. D. N. H. Perera was appointed as the Alternate Director to Mr. Prashan Buddhika Perera with effect from 22nd February 2013.

 Vallibel Power recognized at ACCA Sustainability Awards

Vallibel Power Erathna PLC was adjudged the First Time report winner in the Small Scale Category of ACCA Sri Lanka Sustainability Reporting Awards 2012. The Awards ceremony was held at the Cinnamon Grand Colombo on 20th February 2013. This was the 10th edition of the ACCA Sri Lanka Sustainability Reporting Awards.

Read More >> Published on Sunday Times on March 3, 2013

 'VPEL grabs the Gold Award in Annual Reports Award Ceremony 2012'

Vallibel Power Erathna PLC for the consecutive year was able to win an award from The Institute of Chartered Accountants of Sri Lanka.


 'President presents National Green Awards to environment protectors and VPEL wins     Bronze'

Erathna Mini Hydro Power Project has won the Bronze award in Mini Hydro Category at the National Green Awards 2012.

Read More >> Daily FT, Wednesday, 5th December 2012

 Small Hydro Power Developers elect new Executive Committee

The Small Hydro Power Developers Association elected a new executive committee for the year 2012/13 at the Annual General Meeting held on 31 October 2012 at the Royal Golf Club Colombo.

Read More >> Daily FT, Monday, 12th November 2012

 Vallibel Power Art Competition 2012

Vallibel Power Erathna PLC organized its first Art Competition Vidooka 2012 for the children of Erathna and Adavikanda villages and the children of its staff members, as a CSR initiative.


 Sri Lanka to construct 200 mini hydropower projects

Sri Lanka Minister of Power and Energy Patali Champika Ranawaka says that measures are in place to construct 200 mini-hydropower projects in the island.

Read More >> ColomboPage Online, Tuesday, 06th November 2012

 Sri Lanka inflows to hydro power plants lowest in 20-years

Water inflows to Sri Lanka's hydro power plants up to September 2012 was the lowest in 20-years and much lower than a year earlier which was also a drought year, the island's power ministry said.

Read More >> Lanka Business Online (LBO), Friday, 05th October 2012

  Small Hydro Power Association cries foul over PUCSL's move

The Small Hydro Power Association (SHPA) yesterday cried foul over the sudden withdrawal of new tariff announced by the Public Utilities Commission (PUCSL) and warned the move by regulator had put 50 MW of renewable energy at stake.


  Renewable Energy Firms

Sri Lanka renewable energy firms demand higher tariffs after depreciation.

Read More >> Lanka Business Online, Wednesday, 29th August 2012

  Delegation from Seychelles visits Vallibel Mini Hydro Power Plant

The delegation of senior officials of the Government of the Seychelles which accompanied His Excellency James Alix Michel,President of Republic of Seychelles on his State Visit to Sri Lanka, paid a visit to a mini hydropower project of Vallibel located at Erathna, Kuruwita.


  First Quarter Results

The Company released the first quarter results for the period ended 30th June 2012 on 14th August 2012.

  ISO Certification

VPEL, recognizing the importance of continual growth, is in the process of obtaining the ISO certification. It has taken the initiative to establish an Integrated Management System of ISO 9001:2008 & ISO 14001:2004. An agreement was signed with Somaratna Consultants on 25th July 2012 for this purpose.

  Annual Excursion of Vallibel Power Erathna Head Office 2012

This year, Annual Excursion of Vallibel Power Head Office Staff was to Trincomalee - Hotel Chaaya Blu. The excursion was on 21st and 22nd July 2012.

  Vallibel Power Erathna PLC organized a training program on 5S to its staff on     30th June 2012

As an initiative towards continual improvement, Vallibel Power organized a training program on Work & Life Balance and 5S to all staff on 30th June 2012. The program was conducted by Sri Lanka Institute of Development Administration (SLIDA) at SLIDA premises.

  The Annual General Meeting of Vallibel Power Erathna PLC for year 2012 was held on     26th June 2012 at Hotel Taj Samudra Colombo

The Annual General Meeting of Vallibel Power Erathna PLC for year 2012 was held on 26th June 2012 at Hotel Taj Samudra Colombo. The meeting was chaired by the Director Mr. Nimal Perera. The meeting was concluded with an informative company profile vedio presented to all shareholders.

  Tea with CEO

Vallibel is a diversified conglomerate which has invested in financing, banking, Leisure, Garments, Manufacturing industry and power sector. Under vallibel power it develops renewable energy projects to generate electricity and supplies electricity to national grid. Vallibel ventured into power generation business in early 2000 and successfully commissioned its 10MW plant in 2004, which later on went public with the record braking oversubscribing shares in year 2006, and has generated substantive profit for its shareholders. Since then vallibel has invested extensively in hydro power sector contributing more & more green energy to the nation.

Interviewed by: Ashwin Hemmathagama


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