Camana Bay, Cayman Islands, February 21, 2024. Infinitum Energy (“Infinitum“, “iEg“, or the “Company“), a leading climate infrastructure clean energy development company, is pleased to announce the Company has received a Provisional Approval from the Sri Lanka Sustainable Energy Authority (“SLSEA”) for the development of the first 100MW phase of the Company’s 350MW solar project in the Hambantota region of Sri Lanka.
This key approval will allow iEg to meet its scheduled development targets for this crucial project. The project is poised to produce almost 268,000 MWh of clean solar energy for the grid operator, Ceylon Electricity Board (“CEB”), while creating local jobs and reducing the governments foreign cash expenditures on imported fossil fuels.
Lindsay Nagle, Infinitum’s CEO, commented: “This major milestone keeps us on track to have the project financing package ready by the middle of year, with construction slated for late calendar 2024. Again, our Country Director, Mr. Panabokke has showcased his prowess in achieving the projects’ milestones. We are excited to see this project executed and to then begin to develop our broader portfolio in the country.”
Source: First Solar website 2024-03-30
About Infinitum Energy
Infinitum is a climate infrastructure company specializing in the development of clean energy projects within emerging markets. The Company’s core focuses are high-impact solar, wind, and innovative waste-to-energy projects. Through strategic partnerships with leading financial institutions, the team has executed on 42 clean energy projects spanning 13 countries to date, with investments amounting to over $12 billion. Infinitum’s current development stage projects are located in Sierra Leone and Sri Lanka; with teams actively developing additional projects in Mongolia, Uganda, and Turkey; totalling more than $2.5 billion of expected capital expenditures.
For further information on the Company, please visit https://www.infinitumenergygroup.com
ON BEHALF OF THE BOARD
“Lindsay Nagle”
Director & CEO
For more information contact:
Jeremy Wright, Director & CFO
+1 (604) 837-7990
[email protected]
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