Japanese firm invests US $ 1mn in 700 kW mini hydro project in Erathna
Tue, Feb 14, 2017, 11:56 am SL Time, ColomboPage News Desk, Sri Lanka.
Feb 14, Colombo: A US$ 1 million investment by a renowned Japanese investor Zero Plus Co. Ltd paves the way for 700 kilowatt (kW) mini hydro project at Erathna in Ratnapura. The project which is nearing completion is due to be commissioned in August 2017.
“This investment is our foremost penetration into hydropower-related projects. Despite its electricity generation being primarily run by hydropower, Sri Lanka still has vast untapped potential in the capacity of utilizing hydro energy due to its abundance of lakes, rivers and streams. This is the primary reason behind our focus on the island nation. This initial project paves the way for more investments to be channeled towards the development of hydropower,” said Zero Plus Co., Ltd Director/CEO Keiichiro Yatomi.
Hydroelectricity is the oldest and historically the principal source of electricity generation in Sri Lanka, holding a share of 48 percent of the total available grid capacity in December 2013 and 58 percent of power generated in 2013.
TAD Lanka Investments (TAD), the local facilitator of this project, is reputed for its vanguard capabilities in streamlining and safeguarding all types of foreign investments and investors channeled to Sri Lanka.
Since its inception in May 2016, TAD Lanka has in effect successfully streamlined many significant investments and continues to gain prominence among its burgeoning clientele.
“TAD Lanka Investments is proud to be part of this vital hydropower project, which is an indispensable requirement due to the power crisis faced by us as Sri Lankans. This investment, which is an introductory venture, opens more avenues for the promotion of sustainable energy projects by a host of other Japanese investors of TAD,” commented TAD Lanka Investments Director/CEO Atheeq Ansar.