Japanese joint venture in Sri Lanka to commence manufacturing of solar panels in the country
A Board of Investment (BOI) of Sri Lanka company, the Japanese Sri Lanka Friendship (JSF) Corporation, is to commence operations at its production facility in Katunayake shortly.
The Japanese joint venture will become Sri Lanka’s first and sole manufacturer of solar panels.
According to local media reports, JSF will manufacture solar panels, assemble inverters, and provide LED lighting solutions in Sri Lanka to serve domestic and international markets across Europe, Asia, US and the Middle East.
The Japanese company is expected to employ its state-of-the-art technology and service solutions in Sri Lanka, whilst production is to commence under the supervision and guidance of renowned Japanese technicians.
Reports further state that the company offers a 35-year generation warranty on all its solar panels under the brand name SAKURA SOLAR, and will serve domestic and corporate clientele all over Sri Lanka, offering significant cost and service benefits.
JSF Corporation is the only 100% Japanese investment in the renewable energy industry in Sri Lanka, and the only BOI-approved company with a 55-year agreement in the renewable energy industry, reports further state.
Accordingly, the company is to invest Rs. 5 billion in Sri Lanka through this initiative, and is expected to provide employment to over 200 personnel at the outset, with a 200MW annual output capability.
“The inauguration of JSF’s manufacturing plant in Sri Lanka is the culmination of a concerted process to attract cutting-edge Japanese technology and expertise in renewable energy. 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,” JSF Corporation Director and Chief Executive Officer, J. L. A. P. Liyanage has been quoted as saying.
JSF is to commence operations at the Katunayake Export and Processing Zone on the 21st of July.
OSL take:
With the growing need for power generation solutions in Sri Lanka, the Sri Lankan government together with the private sector is looking at renewable energy generation options to be launched in the country. The government is currently engaged in programme to promote solar power generation in the country. The manufacturing of solar power panels by the Japanese joint venture in Sri Lanka is an ideal business venture that would capture the power and energy market in the country. Foreign investors/businesses could look explore business opportunities in Sri Lanka’s power and energy sector.
| Article Code : | VBS/AT/20180720/Z_1 |