Infinity Energy Company Limited (INFINITY), one of the leading solar panel manufactures and exporters in China has set up a joint venture with a local company- Helio Energy Lanka (Pvt) Ltd, Battaramulla, to manufacture and export solar panels and invertors for the export market. It is a BOI approved project and the two companies would jointly invest US$ 15 million.
The company officials said a manufacturing plant is being set up in Madampe, Chilaw and the production will begin in September.
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| Athula Wickramaarachchi |
Founder Chairman of Helio Energy Lanka, Athula Wickramaarachchi told the ‘Daily News Business’ that their main objective is to supply to the export market. “INFINITY China based in Jiangsu province China is one of the largest exporters of solar panels to Europe and the US. “However INFINITY is now faced with high taxes when exporting out of China to the US. Hence they have decided to manufacture in Sri Lanka and re-export not only to the US but to the South Asian region as well,” he said.
“This project will reverse the trend where Sri Lanka is paying to import solar panels and instead we will bring in foreign exchange to Sri Lanka by way of a new industry.”
The government’s encouragement towards installing solar energy, tax benefits and quality of human workforce in Sri Lanka encouraged them to manufacture their product range here.”
Initially over 30 Chinese technicians and 10 Sri Lankans would be employed and once the local staff is trained to handle the manufacturing process, the Chinese workers would move out, he said.
He said that they also hope to market 20% of their products locally under the brand Helio and this would help to lower the overheads of solar power installations and would also asset in the recycling of aging solar panels. Helio energy products have been sanctioned for use in Sri Lanka by the Sri Lanka Sustainable Energy Authority.
He said that today two types of solar panels are being used in the world. “Polycrystalline solar panels are moving away due to its high cost and low generation of power. INFINITY is manufacturing solar panels under the Monocrystalline technology which is now being used in Europe and USA and all over the world and we offer a 25 year worldwide guarantee for our products.”
He said that under the first phase the factory will manufacture around 1,300 panels and invertors per month and will soon move to the manufacture of other products in one year of its operations.
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