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Last Updated : 2024-04-29 20:42:00
17 January 2024 03:00 am - 8 - {{hitsCtrl.values.hits}}
President Ranil Wickremesinghe addressing the ‘Green Technology Forum’ in Davos, Switzerland - Picture courtesy PMD
- Says SL’s renewable energy sector has the potential to yield substantial benefits for both stakeholders and consumers
- Assures investors can expect a high degree of policy continuity
- “This is the best time to invest in Sri Lanka’s renewable energy journey” - Ranil tells Davos
Sri Lanka’s renewable energy sector came under international spotlight this week with President Ranil Wickremesinghe calling on investors to take part in the island nation’s sustainability agenda.
Wickremesinghe assured potential investors while addressing the ‘Green Technology Forum’ in Davos, Switzerland, that Sri Lanka’s renewable energy sector has the potential to yield substantial benefits for both stakeholders and consumers in the coming decades.
“It is clear that Sri Lanka’s renewable energy policy direction is underpinned by multiple motivations and drivers.
Therefore investors can expect a high degree of policy continuity in this sector going forward as well.
“This is the best time to invest in Sri Lanka’s renewable energy journey, and I have no doubt such investments will generate significant value for shareholders and Sri Lanka’s consumers over the next several decades,” said Wickremesinghe speaking at the event coordinated by the Swiss-Asian Chamber of Commerce. While noting there is also tremendous potential for the development of green hydrogen in Sri Lanka, the President gave a comprehensive snapshot of the major reforms implemented in the energy sector in the last two years.
Wickremesinghe also pointed out that wind power is a major opportunity for Sri Lanka, and drew reference to a recent World Bank report which indicated that off-shore wind power in particular has the potential to generate power far greater than Sri Lanka’s requirements.
“Considering this, Sri Lanka and India are in advanced stages of talks regarding grid interconnection to enable Sri Lanka to export surplus electricity, particularly to the fast-growing industrial belt in the Southern part of India. There is also tremendous potential for the development of green hydrogen in Sri Lanka,” he shared.
Sri Lanka has ambitious plans to fulfill its sustainable, green development agenda. By 2050 the country has committed to achieving net zero carbon emission. The accelerated renewable energy plan is a key component of this overall effort and is also an essential step on the path toward energy security, said Wickremesinghe.
Dreamers Wednesday, 17 January 2024 09:07 AM
Yeah right! All you 225 can then rob the money and then leave the country so you can have a peaceful retirement. All of you fellows know that you cannot live here after the elections as your loss is eminent.
Sokrates Wednesday, 17 January 2024 11:34 AM
There are many interested investors who want to invest in Sri Lanka. However, almost all are deterred by corruption and bloated bureaucracy (with the exception of China, which has a questionable and selfish motivation to invest). It can hardly be assumed that the Ranil regime with its criminal and corrupt government will become investor-friendly.
Gabriella Wednesday, 17 January 2024 04:54 PM
Approval for these projects have to be given in a timely and transparent manner. Sans the stalling for the customary bribe. The LRT was a great project. The Japanese have always proved to be an ethical and honourable people. That relationship has now been ruined. Which well regulated Western company with ethical bonafides would want to, or can do business here? This is a country that only attracts the “Rats”.
Sokrates Wednesday, 17 January 2024 11:34 AM
There are many interested investors who want to invest in Sri Lanka. However, almost all are deterred by corruption and bloated bureaucracy (with the exception of China, which has a questionable and selfish motivation to invest). It can hardly be assumed that the Ranil regime with its criminal and corrupt government will become investor-friendly.
Nimal Wednesday, 17 January 2024 06:00 PM
Let them not come. They will only meet corruption and incompetence all the way. Things have not changed in the country.
Roger Halliday Thursday, 18 January 2024 04:53 AM
This guy is a pathetic liar, talking rubbish and only good at forums of how to rob and sell assets, now he is going to teach this to the African nation too.
Adwani Thursday, 18 January 2024 07:50 AM
Now the Japanese finance minister visited personally to remind Modayas to settle the damages for cancelling the LRT Project. This news item is enough to Look at Sri Lanka.
Sambo Thursday, 18 January 2024 08:46 AM
These people will take it from one ear and pass it out from the next year know the situation of the country and it's bureau cats.
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