Japanese Sri Lanka Friendship (JSF) Corporation, a board of investment company, will start manufacturing solar panels at Katunayake in Sri Lanka.
This will be the first solar panel manufacturing facility in Sri Lanka. It will manufacture solar panels, assemble inverters, and provide LED lighting solutions. These products will be sold in domestic markets as well as shipped to international markets across Europe, Asia, U.S. and the Middle East.
“As we open the doors to our facility, we are privileged to become the pioneering manufacturer of solar panels in Sri Lanka and make way for the growth and adoption of advanced renewable energy solutions in the country, which presents the future of sustainability the world over,” said J. L. A. P. Liyanage, Corporation Director and Chief Executive Officer at JSF.
The products will be sold by the brand name ‘Sakura Solar’ and provide 35-year generation warranty on all its solar panels. It will also offer cost and service benefits to domestic and corporate clients in Sri Lanka.
JSF corporation investment is approved by Board of Investment of Sri Lanka (BOI) and has a 55-year agreement in the renewable energy industry. The corporation, with 100 percent Japanese investment, will invest $0.031 billion (5 billion Sri Lankan Rupee) and provide employment to over 200 people. The manufacturing facility will have an annual capacity of 2,000 MW.
Japanese company will offer its state-of-the-art technology and production will start on July 21, 2018 under the guidance of Japanese technicians.
Earlier, Mercom reported that the Sri Lankan government has awarded a 10 MW solar power project to a domestic company Didul (Pvt.) Ltd. The project is slated to be developed near a substation located in Valachchenai, which lies in the eastern region of Sri Lanka.
According to a joint study by the UN Development Program (UNDP) and Asian Development Bank (ADB), Sri Lanka can meet its current and future electricity demand through the use of renewable energy by 2050.
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Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer