CEB to oversee selection of investors for floating solar power projects on key reservoirs

Tuesday, 17 September 2024 01:44 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Friday approved to empowering the Ceylon Electricity Board (CEB) to oversee the selection of investors for the development of floating solar projects on several of the country’s major reservoirs. The selection will be conducted through a competitive procurement process, ensuring transparency and the best value for the investment.

The Sri Lanka Mahaweli Authority has identified three key reservoirs — Randenigala, Moragahakanda, and Kalawewa — as prime locations for the development of floating solar power projects. Feasibility studies for these sites have already been completed, signalling the next step in the process of transitioning to cleaner energy sources.

The initiative is aimed at increasing the share of renewable energy in the national grid and reducing the country’s reliance on fossil fuels. It is part of Sri Lanka’s wider goal to generate 70% of its electricity from renewable sources by 2030.

Floating solar is considered a promising technology that maximises land use efficiency while contributing to our goals of energy independence and sustainability.

The proposal to this effect tabled by Power and Energy Minister Kanchana Wijesekera was approved by the Cabinet of Ministers.