Feb 13, 2017 (LBO) - Japan's Zero Plus Co. Ltd will invest one million dollars in a 700 kilowatt mini hydro project at Erathna in Ratnapura, TAD Lanka Investments (TAD), the local facilitator of this project said.
The power plant is due to be commissioned in August 2017.
"Despite its electricity generation being primarily run by hydro-power, Sri Lanka still has vast untapped potential in the capacity of utilising hydro energy due to its abundance of lakes, rivers, and streams," said Keiichiro Yatomi, director and chief executive of Zero Plus.
Zero Plus is a firm also involved in cosmetic production and mail order business.
"This is the main reason behind our focus on the island nation. This initial project paves the way for more investments to be channeled towards the development of hydro power.
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Erathna Power Company said it is committed to enhancing the sustainable and renewable hydro-power sources of Sri Lanka.
"This investment arrived at a critical juncture, wherein a boost was of primary importance for the development and the importance of addressing the basic need of our countrymen through a viable hydro-power project,” said Prabath De Alwis, director, Erathna Power Company.
Japanese company plans to invest USD 1Mn in mini hydro
