Japan to invest in Mannar Wind Power Project

By Sulochana Ramiah Mohan | Published: 2:00 AM Dec 3 2021
News Japan to invest in Mannar Wind Power Project

By Sulochana Ramiah Mohan 

Japan has begun exploring possibilities of investing US$ 375 million in the wind power project, textiles, and electric vehicle industry in Sri Lanka.

It was Ambassador Sanjiv Gunasekara with the Sri Lankan Embassy in Japan who has been coordinating Marubeni Corporation’s activities in Sri Lanka with the relevant authorities.

Japan’s Marubeni Corporation’s Executive Management Team for Asia visited Sri Lanka to negotiate an investment opportunity for the 200 MW Mannar Wind Power Project. During the visit, the team met President Gotabaya Rajapaksa and the Minister of Finance.

The Marubeni Corporation, with revenues of US$ 67 billion, and a history spanning 160 years, specialises in renewable energy, textiles and agriculture related businesses. The Marubeni Corporation is exploring other possibilities of investing in floating solar and has been requested to set up a comprehensive textile manufacturing facility. They have also been requested to explore the possibility of introducing three-wheeler electric vehicles as well as setting up an electric vehicle charging network in Sri Lanka, and if this materialises it will exceed an investment of US$ 1 billion.


By Sulochana Ramiah Mohan | Published: 2:00 AM Dec 3 2021

More News