Hayleys Solar basks in record 200MW sun power feat
We aim to make renewable energy solutions not only accessible but also rewarding for every Sri Lankan household
Hayleys Solar, the renewable energy arm of Hayleys Fenton’s Limited, surpassed the 200-megawatt (MW) installations, a national record for rooftop solar photovoltaic (PV) capacity in Sri Lanka, setting a new milestone in the island’s transition to renewable energy.
Hasith Prematillake, Managing Director of Hayleys Fenton’s, told the Sunday Times that 200 MW was the largest solar PV capacity installed by a single entity in the country. These installations have enabled Hayleys Solar to save close to 151,835 metric tonnes of carbon dioxide (CO2) emissions released into the air every year.
“We aim to make renewable energy solutions not only accessible but also rewarding for every Sri Lankan household. With our comprehensive solar product offerings, we will continue to develop the market by offering energy-efficient solutions that leverage the power of the sun.”
The company has recorded substantial revenue growth compared to last year. Hayleys Solar is celebrating 200 MW of solar installations through “Surya Sathkara”, a corporate social responsibility scheme set up to give 200 solar installations to care homes across Sri Lanka.
Haleys Solar, a company dedicated to developing energy-efficient solutions, experienced a significant boost in revenue, with a growth rate of 90 percent compared to the previous year. This growth is a testament to the success and effectiveness of Haleys Solar’s products and services in meeting the increasing demand for sustainable energy solutions, Mr. Prematillake added.
The company’s commitment to providing efficient and environmentally friendly alternatives has resonated with customers, resulting in a substantial increase in revenue, he said.
This positive trend not only demonstrates the market’s growing interest in clean energy solutions but also positions Haleys Solar as a key player in the industry. Moving forward, the company can leverage this remarkable revenue growth to further invest in research and development, expand its product portfolio, and continue making a significant impact on the global shift towards clean and renewable energy sources.
Hayleys Solar Executive Director and CEO Roshane Perera said that up until last year, solar energy grew by 20 percent globally, and from this year on, it is growing by 29 percent. “Initially, only affluent corporate clients managed to secure solar energy. Now we have proposed a unique proposition for homeowners to earn extra income from solar energy installations.”
He pointed out that this is the right moment to invest in solar, as solar panel prices have overall come down. “However, the market trend shows that they are going up in price, but even then, the returns on investment will be good enough,” he said.