Sri Lankan government steps up rooftop solar power generation
Daily FT: The Government has taken a further step towards boosting renewable energy supply via a programme promoting installation of Battery Energy Storage Battery Systems for rooftop solar systems.
The move is part of the Government’s policy decision to generate 70% of the electricity requirement from renewable energy sources by 2030 and to zero carbon emissions by 2050.
At present, about 400 MW of the country’s power grid is being supplied by rooftop solar systems.
The Cabinet of Ministers, at its meeting on Monday, discussed measures to further boost this source of renewable energy.
The Government said encouraging installation of battery systems for these systems on self-financed investment through a new tariff system will enable consumers to have a more reliable supply of electricity.
In this context, a committee of officials appointed to identify the technical challenges that may arise in connecting a large percentage of electricity from renewable energy sources to the national grid had submitted its recommendations.
Following an earlier decision in November last year to appoint a Cabinet Sub-Committee to further study the recommendations, the Cabinet this week approved the proposal presented by the Minister of Power to implement the proposed program in accordance with the recommendations made by the Cabinet Sub-Committee.
OSL take:
The government of Sri Lanka is moving towards achieving the 70% renewable energy target by 2030. The government’s renewable energy policy has opened up many business/investment opportunities in Sri Lanka’s power sector. With Sri Lanka facing a looming power crisis due to the continuously increasing demand driven by economic expansion, business/investment opportunities in the country’s renewable energy generation sector poses lucrative opportunities for foreign businesses/investors. Sri Lanka’s ongoing development programme and the positioning of the country as an emerging business destination in the South Asian region have further increased the business potential in Sri Lanka’s power industry, especially in the renewable energy generation sector.
| Article Code : | VBS/AT/10012022/Z_1 |