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World Bank Arm Considers Funding Sri Lanka Waste-to-Energy Plant

The World Bank’s private-sector financing arm is considering $9 million in debt and equity funding for a project in Sri Lanka that will sell electricity produced from burning municipal waste.

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

The $29 million project will be able to incinerate as much as 580 metric tons a day of solid municipal waste. Japan’s Hitachi Zosen Corp. (7004) will provide the technology and the electricity will be sold to the Ceylon Electricity Board, according to IFC.

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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