Rooftop solar initiative calls for EoIs from PPPs in 300 railway stations
Daily FT: In a move aimed at expanding solar power generation, the Cabinet of Ministers recently approved a proposal to call for Expressions of Interest (EoIs) from public-private partnerships (PPP) to install rooftop solar panels on 300 railway stations across Sri Lanka.
Speaking at the weekly post-Cabinet meeting media briefing, Cabinet Co-Spokesman and Transport Minister Bandula Gunawardena highlighted that over 300 stations and buildings owned by Sri Lanka Railways have been identified as suitable sites for the project.
He said the initiative is part of a broader effort to enhance the country’s renewable energy capacity by leveraging the extensive infrastructure of the railway network.
“Areas in the North and East, as well as parts of the South like Hambantota, receive abundant sunlight. It would be advantageous for the Railways if we can generate a profit by installing rooftop solar panels on these stations,” Gunawardena noted.
The Minister also clarified that previous EoIs related to similar initiatives would be disregarded and fresh submissions will be called for under this new proposal.
The proposal, submitted by Minister Gunawardena, received unanimous approval from the Cabinet of Ministers.
OSL take:
Sri Lanka’s power industry, especially the renewable energy generation sector, has become a hotspot for business/investment opportunities in the country. The ongoing economic expansion in the country and Sri Lanka’s target of achieving hub status in South Asia have further expanded the demand for power in the country. With Sri Lanka’s policy of increasing the country’s renewable energy component to 70% of the total power mix, along with the incentives on offer, the growing business/investment opportunities in the renewable energy generation sector presents lucrative business opportunities. The growth and profits recorded by local businesses engaged in the renewable energy sector is further indicative of the growing business potential in Sri Lanka’s power industry. It is the growing potential in the sector that continues to attract foreign businesses like Adani Green Energy to invest in Sri Lanka’s renewable energy generation sector. Foreign businesses/investors could therefore explore the expanding opportunities in Sri Lanka’s renewable energy generation sector. They could also explore the possibilities of forming partnerships or joint ventures with local businesses engaged in the renewable energy sector with the aim of further expansion.