Lagatar24 Desk
Colombo, May 29: Sri Lankan Minister of Power and Energy Kanchana Wijesekera announced on Sunday that an accelerated renewable energy development plan will begin on June 1.
After the fuel bill for power generation exceeded USD 100 million per month, the decision to implement the plan by taking prompt action was made at a discussion at the Ministry of Power and Energy, according to Colombo Page.
So far, two measures have been implemented to implement the solutions under the Renewable Energy Generation Plan. Solar panels are being installed on industrial, government, hospital, and hotel roofs as part of a quest for roof space.
Furthermore, according to Colombo Page, the Ceylon Electricity Board (CEB) would manage thermal and hydropower plants to help reduce generation costs at night while still saving money during the day.
In terms of the second step, prospective projects will be given temporary permission along with an acceptable charge revision.
After the purchase agreement is signed, the project will work with the Ceylon Electricity Board, the Sustainable Energy Authority, and the investor. With the required investment from the investor, it will improve the transmission line as well as the national grid’s capacity, according to Colombo Page.
Large-scale investments for chosen renewable projects will also be accommodated following the financial and technical examination.
Meanwhile, Sri Lanka is experiencing its worst economic crisis since independence, with food and fuel shortages, soaring prices, and widespread power outages affecting a large number of citizens, leading to mass protests and the resignation of former Prime Minister Mahinda Rajapaksa, who was replaced by Ranil Wickremesinghe.
