Sri Lanka is considering energy transition legislation to open up power generation and distribution to the private sector. President Ranil Wickremesinghe highlighted the need for a new sector approach that is private-sector-driven. The World Bank supports Sri Lanka's power sector reforms, emphasizing the importance of regulatory frameworks for renewable energy procurement to attract private investments. The country aims for 70% renewable energy by 2030 and carbon neutrality by 2040, with a focus on green hydrogen. Private sector investments are deemed essential for transforming the energy sector, creating jobs, and enhancing energy security. However, challenges such as financial crises and infrastructure development hurdles exist. The government is working on legislation such as the Electricity Reform Bill and the Climate Change Act to support the transition to green hydrogen and renewable energy. Collaboration with international partners and organizations like the World Bank and ADB is crucial. Despite challenges, Sri Lanka shows potential in renewable energy, with identified zones for wind power development. The need for technical assistance and appropriate pricing strategies to attract investors and ensure competitive consumer pricing is essential for successful integration of renewable energy sources.