The deal will triple Shell’s operational renewables capacity and help it achieve net-zero carbon emissions by 2050, the company said. (Photo: Bloomberg)

Sri Lanka to implement renewable energy generation plan from June 1 – Business Standard

Facing the energy crisis, Sri Lanka’s Minister of Energy and Energy, Kanchana Wijesekera, said on Sunday that an acceleration plan for renewable energy generation is likely to be implemented from June 1.

The decision to implement the plan through immediate action was made during a discussion held at the Department of Energy and Energy after the fuel bill for power generation exceeded $100 million per month, Colombo Page reported.

Under the renewable energy generation plan, two actions have been taken to implement the solutions. Preparations are underway to search for roof spaces for the installation of solar panels on industrial, government, hospital and hotel rooftops.

Moreover, Ceylon Electricity Corporation (CEB) will operate the thermal and hydropower plants to help reduce generation costs at night and also save money during the day, according to Colombo Page.

With respect to the second procedure, provisional approval will be given to the proposed projects along with a reasonable review of fees.

The project is expected to work in cooperation with the Ceylon Electricity Board, the Sustainable Energy Authority and the investor after the issuance of the purchase agreement. It will enhance the transmission line along with 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 accommodated.

Meanwhile, Sri Lanka is facing its worst economic crisis since independence with food and fuel shortages, price hikes, and power cuts affecting a large number of citizens, resulting in mass protests which led to the resignation of former Prime Minister Mahinda Rajapaksa and the appointment of former Prime Minister Mahinda Rajapaksa. Ranil Wickremesinghe as the new Prime Minister.

(The title and image for this report may have been reformulated only by the Business Standard staff; the rest of the content is automatically generated from a shared feed.)

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