Sri Lanka's Green Energy Transition: President's Call for Sustainable Growth
Key Ideas
  • President Wickremesinghe emphasizes the importance of a comprehensive plan for exploiting renewable energy and green hydrogen in Sri Lanka, highlighting the country's commitment to achieving net-zero emissions by 2040.
  • The government is focusing on legislative enactments such as the Electricity Reform Bill and the upcoming Climate Change Act to facilitate the transition towards a sustainable and competitive economy driven by private-sector participation.
  • Sri Lanka's potential for green hydrogen is estimated at about 40 gigawatts, with discussions on leveraging undersea cables for power distribution and becoming a logistics center for the region, including plans for regional connectivity and power linkages with India.
  • The President calls for collaboration with international organizations and private sector investors to drive the energy sector transformation, acknowledging the need for expertise and a detailed plan to harness renewable energy and green hydrogen effectively.
President Ranil Wickremesinghe of Sri Lanka has urged stakeholders, including private sector investors, to support the country's energy sector transformation towards green growth. The President emphasized the significance of developing a long-term plan to utilize renewable energy and explore future trends in green hydrogen. Collaborating with the World Bank, the Ministry of Power and Energy, and the Ceylon Electricity Board, a roundtable discussion was held to address the energy transition. President Wickremesinghe highlighted the importance of a comprehensive strategy to leverage green hydrogen, citing the potential for Sri Lanka to excel in renewable energy. The government's legislative efforts, such as the passed Electricity Reform Bill and forthcoming Climate Change Act, aim to facilitate a shift towards a sustainable and competitive economy. With a focus on private-sector involvement, Sri Lanka aims to achieve net-zero emissions by 2040. The President outlined plans to introduce energy transition legislation and a green finance policy to support the growth of green hydrogen. Discussions also revolved around leveraging undersea cables for power distribution and establishing Sri Lanka as a logistics center, with potential regional connectivity and power linkages with India. President Wickremesinghe called for international assistance and collaboration to address the gaps in expertise and implement a detailed plan for sustainable energy development in Sri Lanka.
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