Japanese consortium will invest $ 15mn solar power plant

A $ 15 million project to set up a solar power plant in Sri Lanka is underway with three Japanese companies invested by a Japanese consortium. The three companies-Shibatasyoji Co. Ltd., Sawada Co. Ltd. and WQ Inc.- are known for their extensive experience in setting up solar power plants in Japan. Shibatasyoji Co. Ltd and Sawada Co. Ltd are the main investors, while WQ Inc. will provide the main components of the project. Japanese experts have conducted a series of in-depth research in this area, concluding that Sri Lanka is one of the most viable countries of solar energy. In addition, the announcement by the Government of Sri Lanka in 2015 of the interest in setting up a series of solar power stations in the country gave it the necessary impetus to lay the foundation for this project. The project is in partnership with Lanka Investments TAD (TAD), the local partner for the project facilitator, and Sierra Technology Holdings, a subsidiary of Sierra Holdings, a local EPC partner for the project. The official signing ceremony took place on February 3 between the Japanese consortium and the two local entities with initial commitment to establish a 10 MW solar power plant with an investment of 10 million US $ and another commitment to invest 150 million $ 100 MW in the future. The decision of engagement will depend on the success of this primary effort, which will be monitored closely. The objective is to put the project within a maximum period of 18 months which entirely depends on the Sri Lankan government's willingness to issue general procurement purchasing agreements for potential investors. "This project is the benchmark for future projects of this caliber in Sri Lanka, paving the way for the imminent energy crisis and are ready to give our unconditional support to achieving success in this area," said a representative of the Japanese consortium . "TAD Lanka Investments is proud to participate in this enormous undertaking, which gives the country stability and some growth in technology that promotes the use of sustainable and renewable energy. It also addresses the current crisis, while the possibilities open new Sri Lanka investments in this area, "said DAE Atheeq Ansar, Executive Director / CEO. TAD was founded in May 2016, the main objective of rationalizing and To safeguard all types of investments and foreign investors channeled Sri Lanka.In its brief period of operation, TAD successfully successfully many important investments and continues to gain a reputation as a first rate company between its This project is a welcome effort experts predict that Sri Lanka is facing an energy crisis in 2018 due to the inability to meet the high energy demand.These projects are essential to improve the Stability and infrastructure.With the government focused on securing foreign direct investment in the country, promoting these projects will benefit Sri Lanka in the long term and encourage more investors to follow suit. Therefore, the importance of this project and the promise to invest more depend on the success of this first project








Copyright@2016 All Rights Reserved