‘Renewable energy generation plan’ to be implemented in Sri Lanka from June 1

A ‘Renewable Energy Generation Plan’ will be implemented in Sri Lanka from June 1, 2022 to enhance the renewable energy generation and its share in the energy mix of the country. The information has been shared by the Minister of Power and Energy, Kanchana Wijesekera.

Sri Lanka is undergoing an economic crisis brought by huge imports in which the fossil fuel imports required for power generation in the country exceed $100 million every month.

It has been informed that the Renewable Energy Generation Plan envisages two measures that are necessary to implement the solutions.  As per the reports, the government is mulling to find rooftop spaces for the installations of solar panels on a range of buildings: industrial, hospitals, government, hotels and so on. Also, the hydro power and thermal power plants will now be managed by the state owned Ceylon Electricity Board (CEB). This decision is aimed at saving the scarce public resources by reducing the power production costs.

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The government is also planning to accord provisional approval to the projects that are proposed. The fee will also be revised.

The Ceylon Electricity Board, the Sustainable Energy Authority and investors are expected to collaborate once the PPA is executed. Once the investment comes to the project, the national grid’s line of transmission and the capacity will be heightened. The government is also willing to allow large scale investments for some RE projects after financial and technical scrutiny.

Sri Lanka is facing a balance of payment crisis as skyrocketing domestic inflation and increasing fuel import bills has not been brought under control. Large scale protests have marred the streets and business environment of Sri Lanka.

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CEB says that Sri Lanka aims to be an energy self-sufficient nation by 2030.  The objective is to increase the power generation capacity of the country from the existing 4,043 MW to 6,900 MW by 2025 with a significant increase in renewable energy.

In March, Adani Group had signed an MoU with the Sri Lanka Government bagging two renewable energy generation projects of large sizes that would be based in Mannar and Pooneryn in the Northern Province of the country. Subsequently, the Government of India signed a pact with its island neighbor to build hybrid power projects ousting Chinese involvement in the projects.