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China has offered to invest USD 800 million in Sri Lankan renewable energy projects.

A Chinese state-owned energy giant, China National Energy Engineering and Construction Company Limited (CNEE), has committed to invest USD 800 million in 400 MW Renewable Energy Projects in Sri Lanka.

According to the Sri Lankan Embassy in Beijing, KE Electric will supply the equipment and know-how.


Dr. Kohona, Sri Lanka's Ambassador to China, recently visited the large KE Electric factory in Shijuazhuang, which manufactures a variety of equipment for the generation and distribution of electric.


He was hosted by KE Electric's Chairman, Chengsuo Zhang, and the Senior Management Team, and was given a thorough tour of the facility. According to the statement, the technology built to generate and transmit solar electricity was of particular interest.


Dr. Kohona described the government's objective of generating 70% of Sri Lanka's electricity demand from renewable sources by 2030. He also mentioned the areas that the government has made accessible for the purpose.


He highlighted that the government is searching for investors and will not take out loans to fund any projects. The CINEE, which had already done some preliminary research on various locations alongside KE Electric, was in the midst of preparing proposals.


Following that, the Sri Lankan delegation was taken on a tour of an amazing solar facility, the Hongji PV Plant Project and Solar Demonstrative Project, in Beizhuang, Pingshan County, Shijiazhuang. Solar panels were installed on barren hillsides.


Control equipment, inverters, transmission lines, and other KE products were seen. Surprisingly, 25% of the project's revenue was immediately allocated to local upliftment and poverty eradication.


A neighbouring community, which had been devastated during the battle against the Japanese, was now flourishing as a result of this fresh source of income.


According to the embassy, the proposed CNEE project will be built on a Build-Own-Operate (BOO) or Build-Own-Operate and Transfer (BOOT) basis.

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