India & Sri Lanka Build Momentum Further on Renewable Energy

JLand Grp & Gentari Ink MoU for Renewable Energy Solutions & Green Mobility Ecosystem

A  memorandum of understanding (MoU) on renewable energy is in the offing between India and Sri Lanka. The Island nation is striving for the generation of 70 per cent of its electricity requirements from renewable sources by the end of the decade and the agreement will facilitate this goal.

As per a member of the Sri Lankan Cabinet, the Indian government is willing to cooperate in the area of energy sector by paving the way for the generation of power through the employment of solar, wind and power generation by way of biomass. The cooperation will see India provide continuous transmission of infrastructure. This will entail the northern and eastern provinces of Sri Lanka. Private and state entrepreneurs in both the nations have joined hands to facilitate the same.

NTPC-CEB Energy Cooperation

In another initiative that further builds on the momentum between India and Sril Lanka in renewable energy, NTPC (National Thermal Power Corporation) and Sri Lanka’s Ceylon Electricity Board (CEB) have signed an agreement to execute a solar power project in unison. It will be implemented in two stages in Sampoor in Trincomalee. 135 MW will be generated from the project.

As per the spokesperson from the Cabinet, this project will have an investment worth $42.5 million.

Almost a week back, the island nation’s Power and Energy Minister Kanchana Wijesekera with an Indian delegation led by Pankaj Jain, Secretary of the Indian Ministry of Petroleum and Natural Gas. The two sides reflected on investment opportunities and corporation in energy. The cooperation will see Trincomalee develop as a hub of energy. India and Sri Lanka will together explore opportunities in Green Hydrogen, renewable energy, Ammonia.

Recently, the Chairman of Indian Oil Corporation Ltd Shrikant Madhav Vaidya had paid a visit to Sri Lanka. The Chairman presented 500 indoor solar cooking systems, ‘Surya Nutan‘ to the island country.

Last year, the Sri Lankan government decided to utilise the line of credit worth $100 million granted by India. In July, 2021, India had signed an agreement with Sri Lankan Government to extend a USD 100 million Line of Credit (LOC) to Sri Lanka for various solar energy projects.