Sri Lanka to implement renewable energy generation plan from June 1

Faced with an electricity crisis, Sri Lankan Power and Energy Minister Kanchana Wijesekera said on Sunday that an accelerated renewable energy generation plan should be implemented from the 1st June.

The decision to implement the plan by taking immediate action was taken during a discussion held at the Ministry of Power and Energy after the fuel bill for power generation exceeded 100 million dollars a month, Colombo Page reported.

Under the Renewable Energy Generation Plan, so far two steps have been taken to implement the solutions. Preparations are underway to seek rooftop space to install solar panels on industrial, government, hospital and hotel rooftops.

In addition, Ceylon Electricity (CEB) would manage thermal and hydroelectric plants to help reduce generation costs at night and also save money during the day, Colombo Page reported.

With respect to the second measure, tentative approval will be given for proposed projects alongside a reasonable fee review.

The project is expected to work in collaboration with the Ceylon Electricity Board, the Sustainable Energy Authority and the investor after the publication of the purchase agreement. It will upgrade the transmission line alongside the capacity of the national grid with the required investment from the investor, Colombo Page reported.

In addition, after the financial and technical evaluation, large-scale investments for selected renewable projects will also be considered.

Meanwhile, Sri Lanka is facing its worst economic crisis since independence with food and fuel shortages, soaring prices and power cuts affecting large numbers of citizens, leading to massive protests leading to the resignation of former Prime Minister Mahinda Rajapaksa and the appointment of Ranil Wickremesinghe as the new Prime Minister.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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