China offers to invest 800 m USD on SL’s renewable energy projects
The China National Energy Engineering and Construction Company Limited (CNEE) has offered to invest 800 million US dollars on 400 MW renewable energy projects in Sri Lanka.
The equipment and know-how will be supplied by KE Electric, says the Sri Lankan embassy in Beijing, after ambassador Dr. Kohona visited its plant in Shejuazhuang.
He was given a comprehensive tour of the establishment that produces a range of equipment for the generation and distribution of electricity.
Dr. Kohona explained the policy to produce 70 per cent of the electricity need from renewable sources by 2030.
He emphasized the government was looking for investors and will not take loans to finance any projects.
The CINEE which had already done some preliminary work on potential locations together with the KE Electric, was in the process of preparing its proposals.
The proposed CNEE project is expected to be on a build-own-operate (BOO) or build-own-operate and transfer (BOOT) basis, the Sri Lankan embassy adds.