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“Members of the audience who are familiar with the situation in Sri Lanka will know what I am referring to,” he added.
In September 2011 India’s NTPC-Ceylon Electricity Board commenced the Sampur Power Plant - a 500MW power project in Trincomalee. India has extended a line of credit of $ 200 million. A 240 km long transmission line would connect the project to connect it to the national grid by 2017.
Sinha also said only seven families have been displaced for the Sampur Power plant as per Sri Lankan records. “These families will be rehabilitated in houses in the housing project being set up under Government of India auspices,” Sinha said.
The Indian envoy told the Summit participants that in the post conflict period, the Sri Lankan economy has expanded rapidly.
Noting that bilateral ties go back to time immemorial, Sinha said engagement in energy relations was an important part of Sri Lanka-India relations.
“In petroleum, Lanka IOC has made phased investments in Sri Lanka. It is the only foreign company that operates in the Sri Lankan retail market. In oil and gas exploration, ONGC Videsh has been I discussions with Sri Lanka. Cairn Lanka has discovered petroleum reserves in two blocks in the Mannar Basin.”
In renewable energy, both Sri Lanka and India have agreed to explore cooperation in renewable energy between Lankan and India public sector undertakings and private sector companies. 15 MW worth of Bio Mass projects are being studied,” the Indian envoy said.
Private sector India companies such as Ankur Scientific and Suzlon are successfully operating in Sri Lanka.
“An area of great promise is the potential of energy trade between Sri Lanka and India. Power trade between India and its neighbours is going on. India is also discussing power trading possibility between India and Sri Lanka based on inter-grid connectivity. The peak hours in the two countries are also different. Sale of power will help lessen trade imbalance between India and Sri Lanka. It will also help Southern India remove its power deficits, thereby ensuring a win-win relationship for both countries,” Indian High Commissioner Sinha told the Asia Energy Security Summit.
The event at Hotel Taj Samudra brings together energy experts from across the globe come together to discuss critical strategies, policies and geopolitical aspects related to energy security for the region.
The Summit focuses on geopolitics of energy, energy security, transnational electricity trade and security of energy infrastructure.
Some of the key topics for this year include: The food, water and energy nexus; global impact of shale oil extraction and America’s declining oil import appetite; the economic dynamics of China and its impact on China’s appetite for energy; harmonising institutional and policy framework to address ASEAN energy requirements; transnational trade of electricity – connecting Tajikistan to Singapore; Central Asia – Energy dynamics of a land locked region; Pipeline and pipelines politics - Role of Russia and its inevitable dominance; geopolitical developments in 2013 (Syria, Iran, Iraq) and their impact on Asia energy security; role of coal in Asia’s energy mix; rising threat of terrorism to Asia’s energy assets and security of energy infrastructure and energy transfers through sea lanes.
Chief Guest at the ceremonial opening Deputy Minister of External Affairs Neomal Perera emphasised that energy security is a pre-requisite for rapid economic development.
“Today Sri Lanka doesn’t produce any fossil fuels and depends totally on imported resources.
With all the hydro potential has been fully utilised, the govt has been forced to look at fossil fuel initiatives. In 1995, hydro power accounted for 95% of our power production. Hydro source has decreased to 35% of total power production as power demand has grown high,” Perera said.
He said the Government has launched a major initiative to look at Renewable Energy (RE). Nearly half of our energy comes now from renewable energy.
“Nations like Sri Lanka need to be encouraged. Any policy or regime that doesn’t look at the financial viability of new technologies/renewable energy to generate energy, would not be able to be incorporated in to nations like Sri Lanka,” Perera told the Asia Energy Security Summit.
