IFC mulls investment in Sri Lankan waste-to-energy plant

May 02, 2012

The International Finance Corporation is reported to be considering providing USD9 million in debt and equity funding for a project in Sri Lanka that will sell electricity produced from the incineration of municipal waste.

RenewGen Enviro Ventures India Pvt won a 25-year contract to build and operate a 10-MW plant in Sri Lanka’s Western Province, according to a summary of the proposed funding on the IFC’s website.

The USD29 million project will be able to incinerate as much as 580 metric tons a day of solid municipal waste. Japan’s Hitachi Zosen Corp will provide the technology and the electricity will be sold to the Ceylon Electricity Board, according to IFC.