South Korea's $2mn Grant for Energy Efficient Street Lamps in Sri Lanka to Cut Costs by 80pct

18th January 2011, www.island.lk, By Ifham Nizam

The South Korean government will provide a grant of nearly USD two million to the Lanka Electricity Company (Pvt) Ltd (LECO) to convert conventional street lamp bulbs into energy efficient ones in the coastal belt. LECO provides 10 per cent of the country’s electricity consumers especially with a focus in the coastal belt.

The Company’s Chairman Chandana J. Haputhantri told The Island’s Financial Review yesterday the Korean Government will support as a pilot project after inspecting the energy efficiency program to cut energy costs by 30 per cent using automatic switch on and switch off method.

Haputhantri says Rs. 400 million is spent annually on street lights coming under the LECO area. However, there is a 30 per cent reduction following the induction of the automatic system. He says by using energy efficiency bulbs the cost to maintain street lamps could be cut down by 80 percent.

The LECO Chief also says they recorded an income of around Rs. 14 billion last year and anticipates a figure of around Rs. 18.5 Billion this year. Last year Rs. 12 million was spent on purchasing power.

With the intention of improving their service to the consumer plans have been implemented to increase that figure to Rs. 15 million this year. Through this LECO anticipates a profit of Rs. 796 million, against the profit of Rs. 264 million (before tax) recorded last year.

He says LECO which lays claim to a prudent history of 25 years, can be identified as a company that provides the same quality service as the CEB.

"Furthermore, we are committed to serve the people through being environmentally friendly, satisfying the customer through innovative services, dedication and providing the best service through a talented and contented workforce," he added.

LECO provided their services to 392,782 consumers in 2004, have been efficient enough to improve that figure to 473,813 this year.

Although LECO is reaping the benefits of providing the consumers a better, trusted service, through its favourable infra structure, they are committed to developing constant quality development programs.

In addition to these consumer oriented programs, plans are currently under way for the progressive development of more efficient street lighting.