Govt goes for renewable energy projects by 2030 investing US$12 bn
The government will be obtaining technical and financial assistance, especially from international organisations to implement renewable energy ventures including two wind power projects in the North.
Sri Lanka has recently unveiled a green hydrogen roadmap introducing a strategy to leverage offshore renewable potential in the Northern Province.
Two 350 MW of Wind Power Projects will be developed by Adani Green Energy with a total investment of $442 million
Energy Minister Kanchana Wijesekara has said progress of the 500 MW Renewable Energy Project in Mannar & Pooneryn was discussed with Anil Sardana, MD & CEO of Adani Transmission Ltd and project management team”.
Sri Lanka has now designated three large renewable energy projects in the North and Eastern Provinces as a result of this agreement.
Ceylon Electricity Board (CEB) and National Thermal Power Corporation (NTPC) have formed a joint venture to build a 50MW solar power park in Trincomalee’s Sampur area.
He outlined the country’s commitment to obtaining 70% of its energy from renewable sources by 2030, with a focus on excluding fossil fuels.
Ninister Wijesekera called for the support of state leaders in achieving this ambitious target, highlighting the need for financial backing.
The Minister estimated a requirement of at least US $ 12 billion by 2030 for the successful implementation of renewable energy projects.
He underscored the need of, providing a dedicated platform for Sri Lanka to engage with local and foreign organisations and make crucial decisions on financial considerations.
The Adani Group has signed a MoU with the Sri Lankan government to develop two large-scale renewable energy projects in the neighbouring country.
The MoU was signed at the Finance Ministry of Sri Lanka on March 11, 2022 between the representatives of Adani Group, Ceylon Electricity Board, Sustainable Energy Authority (SEA) and the Board of Investment (BOI).
Both renewable energy projects will cost approximately $500 million and will have a combined power output capacity of 500 MW. Mannar is located on the northwestern coast of Sri Lanka.
Pooneryn is a small town on the Jaffna Peninsula, immediately south of the Jaffna Peninsula. Both projects are in Sri Lanka’s north. The projects will take approximately a year to complete.
He emphasised the pivotal role of this year’s conference in advancing Sri Lanka’s renewable energy agenda.
He highlighted the significance of the opportunity to generate electricity through sustainable resources, emphasising that plans for this initiative were presented last year.
He noted the findings of survey reports by global institutions, such as the World Bank and development agencies, indicating the substantial potential for electricity generation to meet both national and regional needs.