Private Sector investments to support Renewable Energy

Private Sector investments to support Renewable Energy

Private Sector investments to support Renewable Energy

Written by Staff Writer

26 Sep, 2021 | 8:36 am

COLOMBO (News 1st); The Director General of Sri Lanka Sustainable Energy Authority Sulakshana Jayawardana said the renewable energy sector will be developed with the support of private investments.

“The government’s strategy is to develop renewable energy with private sector investment. We have submitted a gazette notification which will be published probably by next week. It will invite prospective investors to submit their proposals for renewable energy development,” he said.

Sri Lanka has said it will meet 70 percent of its energy requirements through renewable sources by 2030.

Central bank data show Sri Lanka generated 15,714 Gwh of power last year.

36.6 percent were from coal power plants while 26.6 percent were from furnace oil.

24.9% was obtained through hydro power, and 11.9% through non-conventional renewable energy sources.

“We do have plans on meeting the policy target in 2030. In that context, we will very much rely on wind and solar. Currently there are some hydro power plants being constructed. Apart from these large scale projects, we have 200 megawatts worth of hydro mini power plants,” said Sulakshana Jayawardana.

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