Thai delegation explores renewable energy cooperation in Sri Lanka
Newswire: A high-level delegation of Thai officials and private sector representatives met at the Ministry of Power and Energy in Sri Lanka to explore renewable energy cooperation, Power and Energy Minister Kanchana Wijesekera said.
Officials from various Thai agencies and the private sector, including the Ministry of Foreign Affairs, Ministry of Energy, Royal Thai Embassy, Electricity Generating Authority of Thailand (EGAT), PTT Public Company Limited, and Global Power Synergy Public Company Limited, convened a meeting last week at the Ministry of Power and Energy in Sri Lanka, Minister Wijesekera said on ‘X’.
Acting on instructions from the Prime Minister of Thailand, the delegation is in Sri Lanka to assess the feasibility and potential for future cooperation and investment in renewable energy, particularly focusing on electricity generation, the Minister said.
During the meeting, discussions centered around policies and plans for the electricity sector, multilateral interconnections, proposed sector reforms, necessary investments in renewable energy, the potential of green hydrogen, and avenues for energy cooperation between the two countries.
OSL take:
Sri Lanka’s power industry, especially the renewable energy generation sector, has become a hotspot for business/investment opportunities in the country. With the ongoing economic activities and the country’s target of becoming a regional hub have all resulted in Sri Lanka’s power industry showing a steady growth and increase in demand. In such a backdrop, the Sri Lankan government’s decision to increase the country’s renewable energy component to 70% of the total power mix have expanded the business/investment opportunities in the renewable energy generation sector. The growing business potential in Sri Lanka’s renewable energy generation sector is indicative of the interest shown by foreign businesses/investors like India’s Adani Green Energy, in the expanding business/investment opportunities in the sector. The Sri Lankan government has also introduced incentive schemes and competitive tariff rates to further attract foreign businesses/investors to the renewable energy generation sector. Foreign businesses/investors while exploring the expanding opportunities in the renewable energy generation sector, could also look at forming collaborations with local businesses engaged in the sector with the aim of further expansion.