WindForce commences 366 kWp solar project in the Maldives
The Morning: WindForce PLC has officially commissioned a 366 kWp rooftop solar PV project on Cocoon Island, the Maldives, in partnership with Cocoon Investment (Pvt) Ltd.
This engineering, procurement, and commissioning (EPC) project, launched on 20 October, aims to significantly lower the resort’s carbon footprint through solar energy utilisation.
Located in the picturesque Lhaviyani Atoll, the project is expected to be completed within six months, with an investment cost of $ 296,372.
WindForce’s latest project reiterates its commitment to sustainable energy and aligns with broader economic and environmental goals, promoting a cleaner, greener future.
OSL take:
Sri Lanka’s power industry, especially the renewable energy generation sector, has become a hotspot for business/investment opportunities in the country given the ongoing economic activities in the country as well as the country’s target of becoming a hub in the region. With Sri Lanka on a path to increase the country’s renewable energy generation component in-line with the increasing demand for power in the country has opened up a host of business/investment opportunities in renewable energy generation. The growth and profits recorded by local businesses engaged in the renewable energy generation sector and the expansion of operations by these companies locally and internationally indicate the growing business potential in Sri Lanka’s renewable energy business. Local authorities have also ensured competitive tariffs for renewable energy products ensuring lucrative business opportunities. Foreign businesses/investors could therefore confidently explore the growing business/investment opportunities in Sri Lanka’s renewable energy sector while also looking at forming joint ventures or partnerships with local businesses in the sector in order to expand operations locally and internationally.
| Article Code : | VBS/AT/20241011/Z_2 |