Sri Lanka power crisis to be eased by new self-generation scheme
The prevailing drought conditions in Sri Lanka is an added burden to the country’s power crisis, with the Ministry of Power and Energy having informed the bulk supply customers registered with them to generate their own power from May 2nd till the 6th as part of the ministry’s newly introduced “Self-Generation Scheme.”
The Ministry’s decision was aimed at mitigating the country’s prevailing power crisis, with the 550 megawatt contribution by the bulk suppliers being added to the country’s power supply.
During the past few months, the Ministry has continued to register those who own generators to a ‘self-generation scheme’ in which LKR 36 is paid for each unit supplied.
So far approximately 250 bulk supply customers have reportedly already been registered with the scheme, with factories and various public and private institutions also being among them.
OSL TAKE:
Though the Ministry’s decision to get bulk suppliers to participate in the “self-generation” scheme was temporary, Sri Lanka has over the years frequently faced power outages when a drop in hydropower generation due to the scarcity of rainfalloccurs.
The country’s main reliance on hydropower electricity generation has led to constant periods of regulated blackouts.
As a result of this problem the government is seeking to encourage diversifying into alternative power generation methods that are sustainable, reliable and cost-effect.
Therefore the opportunities available for energy sector operators to explore Sri Lanka as an investment opportunity are limitless.
With the country expanding its infrastructure development, reliable power generation will become an imperative and those who enter the fray at the inception stand to reap great benefits.
| Article Code : | VBS/AT/30082017/Z_4 |