Eco Power appoints new CEO and CFO

With over 25 years of experience in the hydropower industry, Bhatiya Ranatunga takes on the CEO position at Eco Power.

Ranatunga has represented Sri Lanka and participated in numerous energy conferences around the world, sharing his knowledge and expertise both in Sri Lanka and overseas. As Chief Executive Officer of Eco Power Group of Companies, he brings to the table, his vast knowledge, proficiency and considerable experience in the field of electrical engineering.

Chairman of Eco Power Dinesh Ambani said that the organisation was being strengthened to enable it to take on the rapid developments planned for development of multiple sites in different countries. He added that Ranatunga was well poised to meet these challenges and position the company towards rapid growth.

“Eco Power currently designs, constructs, owns and operates small hydro power plants in Sri Lanka and East Africa. Eco Power began in early 1997, with Metropolitan as its parent company, to provide energy that was environmentally friendly. Besides designing, building and operating SHP plants we also provide a comprehensive package of services to other parties in all areas connected with SHP plants including design, construction supervision and operation,” says the company’s new CEO.

Ranatunga, who holds Bachelor’s and Master’s degrees in Engineering in the UK, began his engineering career with Brown & Company Limited back in 1983. During this time, he was involved in rehabilitating a number of mini hydro projects in the estate sector in Sri Lanka.

On completing his studies in the UK, he returned to the country in 1994, and took up a position with Intermediate Technology Development Group (ITDG) as the Team Leader of the Hydro Power Programme. While at ITDG he was involved in the development of various off grid micro hydro projects and the first two grid connected micro hydro projects which were built as the first grid connected pilot projects in the country.

He was part of setting up Eco Power Pvt. Ltd. in 1997, and was the first employee of the company, making this his longest assignment to date. Eco Power, which specialises in setting up small hydro power plants across the country, has grown from strength to strength with Ranatunga at its helm. Starting off as Senior Manager, he fulfilled that role for 12 years prior to being promoted as Director Operations. It is under his supervision and management that Eco Power’s 10 operating hydro power plants are functioning today.

As the CEO of the company, Ranatunga plans to take it even further. He has already begun the groundwork for several new hydropower projects primarily in East Africa but also in Sri Lanka, especially if larger sites for development will become available. This initiative, which would come under one more of the Group’s companies will be looked at as part of a strategic partnership with the Government or the CEB.

“This would mean identifying sites, arranging feasibility studies and negotiating and entering into suitable Public Private Partnerships. I am also responsible for separately identifying EPC type work that the Group can profitably take on in East Africa or elsewhere and also to implement structured project management systems to ensure that future projects built by the Group are technically sound, within budget and built on schedule,” said Ranatunga.

He has attended specialist-training programmes in Sri Lanka and overseas representing Eco Power, which has further helped to develop his technical knowhow and direct the company towards immense success in building, operating and maintaining its own hydro power plants. Eco’s newly-appointed CFO brings in a wealth of experience in financial/management accounting, human resources and administration to the company. Firdowsy Ismail, an honours graduate in commerce from the Peradeniya University and an Associate Member of the Chartered Institute of Management Accountants UK, begun his career in the banking sector at DFCC and then moved into accounting and finance.

His first assignment in the accounting sector was in the garments industry within the Free Trade Zone. He then moved on to the Aitken Spence Group of Companies. Ismail has held senior management positions at WJ Towell & Co., a US$ 150 million trading operation in Oman. He rose from the position of Group Treasurer to Group Finance Manager at Towell, where he was stationed for approximately nine years.

Ismail also played a key role in the setting up of Serendib Flour Mills during his eight years with the company, which was the second entrant to the wheat flour industry in Sri Lanka. He overlooked all finance, ICT, procurement and administration, activities of the 200 employee company, which set up its mill operations at the Colombo Port.

He took up the position of Chief Financial Officer at Eco Power in November 2010 and overlooks the finance and administration functions of the Group in Sri Lanka as well as its overseas operations.