$190 Million Solar Cell & Module Factory Being Developed In Sri Lanka
A US$190 million solar PV cell and module factory is now set to be developed in the nation of Sri Lankan, in the country’s Board of Investment (BOI) trade zone near the southern city of Hambantota.
The deal — between the Sri Lankan government and the Australia-based energy consultancy Energy Puzzle — was signed on February 21st. Energy Puzzle will be providing the initial investment for the project.
The facility will possess around 150 MW of manufacturing capacity. Most of the project’s output is going to be exported, but, according to the BOI, there may be some retained for local use.
PV-Tech provides more:
Solar panels manufactured in the country benefit from some tax exemptions according to a recent budget proposal by the BOI.
A statement on Energy Puzzle’s website suggests it is looking to offer the outsourced capacity to established manufacturers to “regionalise your renewable energy products for the Asian and Australian markets”.
“Sri Lanka offers Australian enterprises many opportunities in the renewable energy sector,” stated Patrick Featherston, director, Energy Puzzle. “The country has a well-educated workforce and maintains high standards of manufacturing, which is vital for a renewable energy sector such as the manufacture of solar panels.”
“I am therefore, confident that the choice we made to invest in this rapidly developing country, with excellent connections to the South Asian region, East Asia, the Middle East and other parts of the world, is indeed the right one.”
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