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    AEL.N0000   LK0409N00009

ACCESS ENGINEERING PLC

(AEL.N0000)
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Access Engineering : Mannar Wind Power Project forges ahead adhering to new normal work guidelines

06/10/2020 | 12:16am EST

Work in progress of the final main gravity foundation Erected wind turbines in Mannar Island The Mannar Wind Power Project recently completed the final main gravity foundation along with the erection of the 10th wind turbine. The primary contractor Vestas Asia Pacific along with their specialist civil engineering contractor Access Engineering PLC has achieved satisfactory progress amidst challenging conditions of the COVID-19 pandemic.

This Wind Power Project is the flag-bearer to drive Sri Lanka to a future of clean renewable energy. The first phase of the semi-dispatchable wind farm will produce 100 megawatts of power to the national grid.

Upon completion scheduled for August 2020, the 35 wind turbines will be an iconic feature along the Mannar coast line.The project is implemented by the Ceylon Electricity Board where Vestas as the main contractor is responsible for engineering, procurement and construction (EPC) of the project.

Vestas is to provide the delivery, installation and commissioning of 30 V126-3.45 Mw wind turbines which also includes all civil and electrical works. Access Engineering PLC the specialist sub-contractor is responsible for geo-technical investigations and pilling, construction of foundation for wind turbines, installation of medium voltage cables, etc.

Upon completion this project will be the first major addition of renewable energy to the national grid thereby complementing the government initiative to prioritise sustainable clean energy to the national grid.

© Pakistan Press International, source Asianet-Pakistan

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Financials
Sales 2022 31 301 M 154 M 154 M
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 3,42%
Capitalization 35 600 M 176 M 175 M
Capi. / Sales 2022 1,14x
Capi. / Sales 2023 0,97x
Nbr of Employees 3 446
Free-Float 100%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 36,80 LKR
Average target price 32,67 LKR
Spread / Average Target -11,2%
Managers and Directors
Joseph Christopher Joshua Managing Director & Executive Director
Nilantha Iddagoda Deputy General Manager-Finance
Sumal Joseph Sanjeewa Perera Chairman
T. D. Dharmasiri Chandrapala General Manager-Technical
Dalpadoruge Anton Rohana Fernando Chief Operating Officer & Executive Director