BoI and Power Ministry should seek investment for energy sector: President

• President reiterates commitment to renewables 
• Says projects need to be carried out with expeditious goals 
• Manner wind farm to be expanded to 100MW in 2021
• 100,000 Samurdhi families to get solar panels 

President Gotabaya Rajapaksa has bac-ked the Board of Investment (BoI) and Power Ministry to combine forces to attract investment into the electricity generation sector, particularly renewables, calling for expeditious implementation of projects, the President’s Media Division (PMD) said in a statement yesterday. 

As per the ‘Saubhagyaye Dekma’ Policy Statement, by 2030 the Government expects to meet 70% of the total electricity demand from renewable energy sources.

During a discussion on power generation held at the Presidential Secretariat on Tuesday, President Rajapaksa had stated that the generation of renewable energy should be carried out expeditiously in a systematic manner with short-term objectives.

“The Government aims to meet the increasing demand for energy from renewable energy sources when implementing development projects in the future. Under its first phase the wind power project installed in the island of Mannar has added 30 megawatts to the main power grid,” the statement said.

By the end of the year 2021, this capacity will be increased to 100MW. Wind farms are also being built centring Chunnakkam and Poonarin areas. It is also planned to gradually increase the power share generated using solar power and natural gas.

The President emphasised that the Government should intervene to remove all obstacles faced by private entrepreneurs when implementing projects while providing all incentives needed in this regard. The Ministry of Power and Energy is responsible for obtaining prior approval from other institutions and awarding it to investors, the statement added.

President Rajapaksa also said that the Board of Investment and the Ministry of Power and Energy should jointly take steps to explore investment opportunities and implement projects expeditiously.

Solar power generation is to be done under several schemes. One of the projects to be implemented will identify 100,000 Samurdhi families and build solar panels on the roofs of their houses and provide them with an additional income. The President further stated that the Government should bear the cost of Rs. 800,000 per house for this project.