UKSOL to supply a 13MW Project in Sri Lanka

UKSOL has negotiated a contract to deliver 24,660 UKSOL 540w half cell solar PV modules or 13MW for a solar project in Sri Lanka (customer name withheld)

The British solar module producer has received a signed Letter of Intent from the Sri Lankan installer confirming the project. The project is being funded by a Japanese based investor.

Solar power business in Sri Lanka is an emerging sector with huge potential for growth. Sri Lanka's abundant sunshine and government incentives for renewable energy have created a favorable environment for solar power companies. The country has set a target of generating 70% of its electricity from renewable sources by 2030, with solar energy expected to play a major role in achieving this goal.

There are several solar power companies operating in Sri Lanka, offering a range of products and services, including solar panels, inverters, batteries, and installation services. The government has also introduced policies to encourage small-scale solar power generation, allowing individuals and businesses to sell excess energy back to the grid.

Despite the potential for growth, the solar power business in Sri Lanka faces challenges such as high initial investment costs and limited financing options. However, with the increasing demand for renewable energy and government support, the industry is expected to continue to expand in the coming years.