Sri Lanka holds significant off-shore wind power potential says The Blue Circle
Daily Mirror: The Blue Circle CEO/Co-founder Olivier Duguet yesterday said Sri Lanka’s potential to generate power via off-shore wind remains very high.
The Blue Circle is an independent power producer focused on renewable energy generation in the ASEAN countries.
The company is currently operating wind power plants in Vietnam and is setting up wind farms in Thailand. It is also set to enter the Philippines by the end of this year to operate wind power plants.
To fully assess the country’s offshore wind potential, the Sri Lankan government has commissioned a roadmap by the World Bank Group under its Offshore Wind Development Programmed.
The launch event of the Offshore Wind Roadmap for Sri Lanka report is scheduled for release this Friday (25).
The Offshore Wind Roadmap for Sri Lanka, funded by the World Bank Energy Sector Management Assistance programmed (ESMAP) and PROBLUE, provides a full overview of potential low and high growth scenarios for offshore wind development in the country, as well as a series of recommendations for the government to make in order to realize these scenarios.
Sri Lanka’s power industry, especially the renewable energy generation sector, is a hot spot for business/investment opportunities in the country. The overall economic expansion and the growing demand in power have all expanded the opportunities in the industry. The government of Sri Lanka’s policy of increasing the country’s renewable energy component in the overall power mix has given a further push the renewable energy generation sector. The growth and profits recorded by the local businesses engaged in the renewable energy sector is indicative of the growing business potential in the sector as well. Many leading foreign businesses in the renewable energy sector have Esther entered the renewable energy sector or have expressed interest in entering the business. Foreign businesses/investors could confidently explore the growing business/investment opportunities in Sri Lanka’s renewable energy sector while also looking at forming partnerships or joint ventures with local businesses engaged in the sector.
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