A multi-million dollar project for the establishment of a solar power plant in Sri Lanka is underway with investment from three Japanese companies through a Japanese consortium.
The companies Shibatasyoji, Sawada and WQ Inc are renowned for their extensive expertise in establishing solar power plants in Japan and this pioneering scheme in venturing out to Sri Lanka will provide the country with the optimum knowledge in this area of competence. Shibatasyoji Co., Ltd., and Sawada Co. Ltd are the main investors while WQ Inc. will be providing the main components to the project.
The Japanese experts conducted a series of extensive research in this field, concluding that Sri Lanka is one of the most viable countries for solar power.
In addition, the Sri Lankan government’s announcement in 2015 vesting its interest to establish a series of solar power plants in the country gave it the needed boost in laying the groundwork for this project.
The project is in partnership with TAD Lanka Investments, the local facilitating partner for the Project, and Sierra Technology Holdings (a subsidiary company of Sierra Holdings), the local EPC partner for the project.
The official signing ceremony took place last Friday between the Japanese Consortium and the two local entities with the initial commitment of establishing a 10 mw solar power plant and an added pledge to invest in 100 mw solar power plant in future.
“This project will set the benchmark for future projects of this calibre in Sri Lanka paving the way to meet the impending power crisis and we are willing to give our unstinted support towards reaching success in this field”, remarked a representative of the Japanese Consortium.
“TAD Lanka Investments is proud to be involved in this gigantic venture which provides the country with stability and certain growth in the technology that promotes the usage of sustainable and renewable energy. It also addresses the crisis at hand, while opening variable opportunities for further investment to Sri Lanka in this area”, TAD Lanka Investments Director and CEO Atheeq Ansar said.
Tokyo Kyodo Accounting Director Yoshikazu Noda, Shibatasyoji Director Tatsuhiro Shibata, Sawada Director Hiroki Sawada,TAD Lanka Investments Director Atheeq Ansar, WQ Inc. Director Steffen Studeny, Sierra Holdings Director Frank Irugalbandara and Tokyo Kyodo Accounting Partner Ryutaro Uchiyama after the signing of the agreements.
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