Five judge bench to hear case against New Fortress deal

Five judge bench to hear case against New Fortress deal

A five judge bench is to begin hearing the case against the New Fortress deal, in the Supreme Court from 29th November.

The Attorney General (AG) had requested the Supreme Court to appoint a full bench to hear the Fundamental Rights (FR) petitions challenging the New Fortress-Yugadanavi Power Plant deal.

The petitions were filed by a number of people including the Archbishop of Colombo His Eminence Cardinal Malcolm Ranjith, the Samagi Jana Balawegaya and the Janatha Vimukthi Peramuna.

US based New Fortress Energy and the Sri Lankan Government had recently signed the controversial deal.

New Fortress Energy said that they had executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (“WCP”), the owner of the 310 MW Yugadanavi Power Plant based in Kerawalapitiya, along with the rights to develop a new LNG Terminal off the coast of Colombo.

As part of the transaction, New Fortress said it will have gas supply rights to the Kerawalapitya Power Complex, where 310 MW of power is operational today and an additional 700 MW scheduled to be built, of which 350 MW is scheduled to be operational by 2023.

New Fortress will acquire a 40% ownership stake in WCP and plans to build an offshore liquified natural gas (LNG) receiving, storage and regasification terminal located off the coast of Colombo. New Fortress will initially provide the equivalent of an estimated 1.2 million gallons of LNG (~35,000 MMBtu) per day to the GOSL, with the expectation of significant growth as new power plants become operational. (Colombo Gazette)

Previous Post Next Post
Disclaimer: This news appearing on Yazh News Media has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor. For further clarification contact us on Email.