From left: Erathna Power Company Director Prabath De Alwis, Zero Plus Director Keiichiro Yatomi and TAD Lanka Investments Director Toshiaki Tanaka
A million dollar investment by a renowned Japanese investor paves the way for a 700Kw mini hydro project at Erathna in Ratnapura. The project which is nearing completion is due to be commissioned in August.
Zero Plus Co. Ltd., a reputed corporate with high stakes in cosmetic production, mail order business and fitness is the sole investor in this valuable project which paves the way for more productive ventures in the near future.
“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 its electricity generation being primarily run by hydro-power, Sri Lanka still has vast untapped potential in the capacity of 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 channelled towards the development of hydro power,” said Japanese investor Keiichiro Yatomi, Director/CEO Zero Plus Co. Ltd.
Hydro-electricity is the oldest and historically the principal source of electricity generation in Sri Lanka, holding a share of 48% of the total available grid capacity in December 2013 and 58% of power generated in 2013. Hydro-electric power generation has been constantly under development since the introduction of the national grid itself, but its market share is declining because suitable new sites are scarce. Currently, 10 large hydro-electric power stations are in operation, with the single largest hydro-electric source being the Victoria Dam.
Although a large portion of the country’s hydro-electric resources is tapped, the government also issues mini hydro development permits to the private sector, for projects up to a total installed capacity of 10 MW per project. (Source: the Internet).
TAD Lanka Investments (TAD), the local facilitator of this project is a prestigious company reputed for its vanguard capabilities in streamlining and safeguarding all types of foreign investments and investors channelled to Sri Lanka. Since its inception in May 2016 TAD has in effect successfully streamlined many significant investments and continues to gain prominence among its burgeoning clientele.
“TAD Lanka Investments is proud to be a part of this vital hydro-power project which is an indispensable requirement due to the power crisis faced by us as Sri Lankans. 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,” commented TAD Lanka Investments Director/CEO Atheeq Ansar.
“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 for the development and the importance of addressing the basic need of our countrymen through a viable hydro-power project,” opined Erathna Power Company Director Prabath De Alwis.
Ground-breaking projects such as these will guarantee significant investment opportunities for potential investors in future and are surely supported by individual entities and the Government as they seek to alleviate the dire requirement faced by Sri Lankans.