Korea funded Energy Efficiency Testing Laboratory opens in Ja-Ela
Daily FT: The Energy Efficiency Testing Laboratory, funded and established by the Republic of Korea, was officially inaugurated in Ja-Ela on 28 November. The Korea-donated facility is poised to transform energy efficiency testing and certification in Sri Lanka, bringing substantial benefits to the nation’s industries, producers, and consumers.
The Korean Ambassador to Sri Lanka Miyon Lee attended the event and delivered a congratulatory address. Emphasising the lab’s importance, Ambassador Lee underscored the scale of the five-year, $ 13.8 billion project and its potential to improve the efficiency of air conditioning appliances, which account for a significant portion of global electricity consumption. She pointed out that the air conditioning is one of the largest contributors to electricity consumption globally, accounting for over 70% of usage. “Enhancing the energy efficiency of air conditioners is therefore critical to managing Sri Lanka’s overall energy consumption,” she added.
The establishment of the laboratory reflects a collaborative effort involving Korea’s key energy-focused institutions: the Korea Energy Agency (KEA), Korea Research Institute on Climate Change (KRICC), and Korea Testing Certification Institute (KTCI). These organisations played a critical role in designing, constructing, and equipping the facility with advanced technology. In addition to the construction of the laboratory, the Korean Government has reinforced its commitment by offering policy consultation and technical assistance to Sri Lanka’s energy sector. This multifaceted approach highlights Korea’s dedication to helping Sri Lanka address energy challenges and transition toward a more sustainable future.
The inauguration ceremony was attended by Sustainable Energy Authority (SEA) Chairman Prof. T.M.W.J. Bandara, Lanka Electricity Company Chairman Eng. Janaka Aluthge, and other Government officials, industry leaders, and representatives from both countries, reflecting the strong and growing partnership between Sri Lanka and Korea.
OSL take:
Sri Lanka’s energy industry is a fast-expanding industry presenting a host of new business/investment opportunities. The growth and profits recorded by local businesses engaged in the industry, especially in the renewable energy industry and related sectors indicate the growing business potential in the industry. The interest shown by leading foreign businesses in the energy industry to do business in Sri Lanka, especially in the renewable energy sector, is a further indication of the lucrative business opportunities presented by the country’s overall energy industry. Sri Lanka’s commitment to increase the country’s renewable energy component in the total energy mix and the country’s path towards becoming a regional hub have all resulted in the expansion of business/investment opportunities in the country’s power industry, especially in the renewable energy sector. Foreign businesses/investors could therefore explore the expanding opportunities in the Sri Lanka’s renewable energy generation sector.
Article Code : | VBS/AT/20241210/Z_4 |