Feb 7 (Renewables Now) - A group of three Japanese companies has committed to invest in a 10-MW solar project in Sri Lanka and possibly in an additional 100 MW of solar power capacity in the country, local media report.
The three Japanese firms, namely Shibatasyoji Co Ltd, Sawada Co Ltd and WQ Inc, on Friday signed a deal with local companies TAD Lanka Investments and Sierra Technology Holdings for the initial project. TAD Lanka Investments will serve as facilitating partner, while the unit of Sierra Holdings will be in charge of the engineering, procurement and construction (EPC) work.
The Japanese consortium estimates that the 10-MW solar project will require an investment of about USD 15 million (EUR 14m). Of the Japanese companies, the main investors are Shibatasyoji and Sawada, while WQ will deliver the main components for the scheme, according to the reports.
The goal is to implement the project within 18 months, subject to the signing of a standard power purchase agreement (PPA).
(USD 1.0 = EUR 0.935)