Sri Lanka calls for proposals for 50 MW renewable energy generation projects
Sri Lanka’s renewable energy generation sector has been given a boost with steps being taken to solicit proposals from both foreign and local investors for the implementation of 50 MW or more renewable power plants.
“These proposals are requested for large scale solar, wind, floating solar power plants to be built on reservoirs, shallow coastal wind farms and for all renewable energy projects,” Sri Lanka’s State Minister of Solar, Wind and Hydro Power Generation Project Development, Duminda Dissanayake has stated.
The Cabinet of Ministers has approved the launch of new projects for renewable energy with the participation of the private sector with the intention of finding a sustainable solution to the growing energy crisis as a country.
The Sri Lankan President’s Prosperity Vision Policy Statement has noted a commitment to promote green energy and these initiatives will support it.
Accordingly, the government of Sri Lanka is accelerating renewable energy projects and aims to add a capacity of 4,800 MW from solar and 3,500 MW from wind to the national grid by 2022-2030.
State Minister Dissanayake has further stated that when calling for proposals from local and foreign investors for the implementation of renewable energy projects, investors should submit their proposal.
An Extraordinary Gazette Notification has been issued for this purpose on 24 September, 2021 and it is hoped that this will encourage private sector investors to invest in renewable energy projects.
The relevant proposals will be considered by a committee appointed by the Ministry and will be forwarded for further action.
OSL take:
Sri Lanka’s renewable energy generation sector is one of the fastest growing economic sectors in the country. The increasing demand for power has created a growing demand for energy generation in Sri Lanka. The government of Sri Lanka is committed to increasing the country’s power mix to 70% renewable energy generation by 2030. Sri Lanka’s renewable energy generation sector is therefore a continuously growing business/investment opportunity in the country.
| Article Code : | VBS/AT/08102021/Z_3 |