Unilever Sri Lanka sets-up solar power project at Horana factory
The Morning: Unilever Sri Lanka recently inaugurated a new 2.33 MW solar power project at its Horana factory, partnering with Abans Electricals PLC for project execution. This significant step forward in Unilever’s commitment to sustainability and renewable energy represents a total investment of 1.3 million Euros.
The project aligns with Unilever’s Global Climate Transition Action Plan (CTAP) and contributes to the ambitious goals set by the Sri Lankan Ministry of Electricity and Energy for transitioning the country’s electricity supply to renewable sources by 2030.
Unilever Sri Lanka Chairperson and CEO Ali Tariq said: “We are proud to inaugurate this solar power project, yet another investment to protect our environment through sustainable practices. It is not just about manufacturing quality products and brands. We also ensure that we act as responsible corporate citizens in everything we do, aligning with our global vision of making sustainable living commonplace. The investment will produce 30%-35% of our Horana factory’s energy requirement.
The project is expected to reduce Unilever’s carbon footprint by curbing carbon emissions by a remarkable 2,090 metric tons per annum, which is equivalent to the environmental impact of planting over 48,000 trees.
“I would like to congratulate the Unilever Sri Lanka team for initiating this rooftop solar mechanism in the Horana manufacturing facility. It helps with the factory’s power generation as well as contributes towards national targets of renewable energy. With the targets that we’ve set for 70% renewable energy carbon neutrality by 2050, there needs to be more private participation in the industry. I’m glad that 2.33 MW rooftop solar will contribute to about 1.5% of our own target for this year on rooftop solar facilities. Climate change is a real challenge and it has been witnessed in Sri Lanka more than ever, so we need to move away from traditional hydropower generation to solar, wind, biomass, new initiatives with battery storage facilities so that we can sustain energy requirements,” said Minister of Electricity and Energy Kanchana Wijesekera.
Unilever Sri Lanka is a leading manufacturer and distributor of Fast-Moving Consumer Goods (FMCG) with a portfolio of 30 popular brands serving millions of Sri Lankans every day. The company is committed to doing good while doing business, focusing on sustainability through its Unilever Sustainable Living Plan (USLP). As part of this commitment, Unilever actively contributes to the Climate Transition Action Plan (CTAP), which outlines a comprehensive strategy to reduce greenhouse gas (GHG) emissions across the entire business and value chain, as part of this strategy Unilever Sri Lanka will increase total solar generation in its network to 4MWs in 2024.
OSL take:
The ongoing expansion in Sri Lanka’s renewable energy generation sector has opened up a host of new business/investment opportunities. Sri Lanka’s policy of increasing the country’s renewable energy generation capacity to 70% has opened up new opportunities with the local private sector companies also turning to set up renewable energy generation facilities in their entities. The conversion to renewable energy by many Sri Lankan private sector businesses have also presented a host of new business/investment opportunities in the power industry. With local businesses engaged in the renewable energy generation sector recording an increase in revenue, the sector shows a steady growth in business potential. The increasing business potential in Sri Lanka’s renewable energy generation sector is evident by the interest shown by foreign businesses/investors to enter into the sector. Given the growing demand for power with the overall economic expansion, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the renewable energy generation sector.