Sri Lanka to launch rapid renewable energy generation plan from this month
The government of Sri Lanka is to launch a rapid renewable energy generation plan from this month to overcome the energy crisis.
Sri Lanka’s Power and Energy Minister Kanchana Wijesekara has reportedly stated that these plans will be executed in two quick steps that would include the conversion of rooftops to solar panels and by extending immediate nod to provisional approval for proposed renewable energy proposals.
The Minister has also told the media that large-scale investments for selected renewable projects will be accommodated after technical and financial evaluation.
Accordingly, state sector buildings including hospitals, industries, hotels and other available roof spaces are to be promoted to fix solar panels.
Sri Lanka’s ongoing power crisis has opened up a host of new business/investment opportunities in the country’s power industry, especially in the renewable energy sector. With the Sri Lankan government’s policy of increasing renewable energy generation capacity to 70% by 2030, there has been a surge in the demand to develop renewable energy generation projects. Many renowned international companies have already expressed interest in investing in Sri Lanka’s renewable energy generation sector. The local companies engaged in the sector have also recorded impressive growth rates and profits. Given the growing opportunities in the renewable energy sector, foreign businesses/investors could confidently explore opportunities in Sri Lanka’s power industry, especially the renewable energy sector.
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