The 700Kw mini hydro-power project at Erathna in Ratnapura, which is nearing completion is due to be commissioned in August.
Zero Plus Co. Ltd., a reputed Japanese corporate with high stakes in cosmetic production, mail order business and fitness, has invested US $ 1 million in the project and is the sole investor.
Director/CEO, Zero Plus Co. Ltd., Keiichiro Yatomi said, “As a business creation company, we develop a wide range of business projects globally, regardless of the type and category of industry.
This investment is our foremost penetration into hydro-power related projects.”
“Despite Sri Lanka’s electricity generation being primarily run by hydro-power, it still has vast untapped potential in utilising hydro energy due to its abundance of lakes, rivers, and streams.
This is the primary 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,” he said.
Director/CEO of TAD Lanka Investments, Atheeq Ansar said, “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.”
Director, Erathna Power Company, Prabath de Alwis said, “Erathna Power Company is committed to enhancing the sustainable/ renewable hydro-power source of Sri Lanka.
This investment arrived at a critical juncture, wherein a boost was of primary importance to address the need of our countrymen through a viable hydro-power project.”