Chinese firm expresses interest in providing renewable energy solutions to Sri Lanka - Opportunity Sri Lanka
Chinese firm expresses interest in providing renewable energy solutions to Sri Lanka

Chinese firm expresses interest in providing renewable energy solutions to Sri Lanka

Sri Lanka’s Ambassador to Beijing Dr. Palitha Kohona and a delegation from the Embassy has visited the headquarters of the TBEA Co. Ltd. (Tebian Electric Apparatus Co. Ltd.) recently where Kohonahad held discussions with TBEA Co. Ltd. Vice President Jia Xiaohui, Deputy General Manager for International Business Wang Yanggang, and the TBEA delegation, on renewable power generation in Sri Lanka.
According to media reports, TBEA Co. Ltd. is a provider of systemic solutions for the global energy industry which holds the 228th place, among the World’s Top 500 Machinery Manufacturers and its scope encompasses power transmission, transformers, new polysilicon materials, aluminium, electronics, solar photovoltaic and wind power systems.
Ambassador Kohona has stated during the discussion that Sri Lanka is looking at more investments in the renewable energy sector and investors like the TBEA Co. Ltd. were welcome to invest in the country.
He has further stated that green energy is the future for mankind and the planet and as per the policy framework of the current Government – ‘Vistas of Prosperity’ – Sri Lanka seeks to produce 70% of energy from renewables by 2030, opening up further investment opportunities.
Deputy General Manager Wang Yanggang has reportedly noted that TBEA is prepared to provide renewable energy solutions to Sri Lanka and hoped that this discussion would bring more opportunities between the two parties.
The Sri Lankan envoy has also encouraged the TBEA to invest in other natural resources in Sri Lanka, including silicon and graphite.

OSL take:

Sri Lanka’s power industry is one of the fastest growing economic sectors in the country given the continuously increasing demand for power that has brought about a power crisis. However, the renewable energy generation sector has opened up many business/investment opportunities with the government of Sri Lanka adopting a policy to increase the country’s renewable energy generation capacity to 70% by 2030. The increasing business potential in Sri Lanka’s renewable energy generation sector presents a host of new business/investment opportunities.

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Article Code : VBS/AT/18032022/Z_6

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