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Japan-based Kosgulana Hydro Company has signed an agreement with the Board of Investment of Sri Lanka to establish a new mini hydro power plant in the country.
The project is expected to cost about LKR475m ($3.63m) and will be able to produce 1.5MW of power.
The new project will be located on Kukule Ganga in Kosgulana village in the Ayagama Divisional Secretariat in the Ratnapura District.
Construction of the power plant is expected to begin soon and will provide electricity to the national grid upon completion.
With the project, the country aims to reduce its carbon emission footprint in order to decrease the effects of global warming.