Sri Lanka goes to Greenstat India for feasibility on generating green hydrogen using renewable energy
Sri Lanka’s Cabinet of Ministers has reportedly approved a proposal presented by the country’s Energy Minister Udaya Gammanpila to engage Greenstat Hydrogen India Ltd. to conduct a feasibility study on a pilot project for generating green hydrogen using a floating solar and wind combination.
According to reports, the move is a part of Sri Lanka’s plans to end the use of fossil fuels by 2050, which has recognised that steps should be taken to minimise gas emissions in the industries where electricity and transport sectors as well as thermal power utilisation is occurring. The government of Sri Lanka expects the initiative to encourage green energy production and consumption by changing supply networks.
The Greenstat Hydrogen India is an affiliated body of Greenstat AS, Norway.
The Sri Lanka Petroleum Development Authority (SLPDA) and Greenstat Hydrogen India are to enter into an agreement to conduct the feasibility study, according to local media reports.
OSL take:
The government of Sri Lanka is committed to promoting a blue and green economy. Several policies based on this concept have already been adopted by the government. Promoting organic agriculture, increasing the country’s renewable energy generation capacity to 70% by 2030 and promoting the use of electric vehicles are a few of the policies being initiated. This has opened up many business/investment opportunities, which are continuously expanding with Sri Lanka fast becoming a business hub in the South Asian region. The increasing demand for power has posed attractive and lucrative opportunities in the country. Foreign businesses/investors could therefore confidently explore business opportunities in Sri Lanka’s renewable energy generation sector.
| Article Code : | VBS/AT/10022022/Z_1 |