SLPA hosts key discussion with DFC and US Embassy for renewable energy in Ports

SLPA Chairman Keith Bernard in discussion with US Embassy’s DFC delegation, local experts and industrial leaders at the meeting. DFC Regional Manager for South Asia Ajay Rao, Regional Infrastructure Office of the US Embassy - Regional Indo-Pacific Strategy Coordinator Dustin Bikel, US Embassy Regional Specialist J.S.A. Arachchi, US Embassy Colombo Economic Specialist Joevinie Machado, Access Engineering Chairman Sumal Perera, McLarens Holdings Ltd. Group Chairman Rohan De Silva, South Asia Gateway Terminals CEO Romesh David and Access Logistics Park Director Nishan Silva are also present

A high-level round table discussion with the participation of representatives of the US Embassy and the Development Finance Corporation (DFC) was held at the Sri Lanka Ports Authority (SLPA) Head Office on 6 November 2023. The discussion, initiated by the SLPA Chairman Keith D. Bernard was attended by local industrial experts and stakeholder groups operating in the port sector.

The dialogue focused on how the DFC can fund projects, explore ways to finance private sector driven renewable energy projects at ports, seeking potential investors and interested groups to work together on the Green initiative etc.

The SLPA Chairman emphasised the significant potential of working together to achieve success in making the port green and eco-friendly, while highlighting the importance of this initial discussion to pave the way for the future. “As a country, we are committed to power our ports with green energy in the future,” he said, adding that the SLPA would look at updating the Sri Lanka Ports National Master Plan by incorporating green energy initiatives. 

SLPA’s Harbour Master Capt. Nirmal P. Silva drew attention to the growing interest in green energy in the Ports and Maritime sector, and underscored efforts to reduce emissions, and the need to align with Sustainable Development Goals (SDGs). He pointed out the necessity for embracing renewable energy, but cautiously choosing from the available alternatives.

The DFC delegation expressed gratitude to the SLPA and local industry leaders for readily agreeing to discuss the way forward in this endeavour. They highlighted the advantages of engaging in green energy and appreciated the foresight of the SLPA to introduce green energy products and services to Sri Lanka’s port sector. The DFC stated that renewable energy is a priority, indicating the availability of financial assistance to implement renewable energy projects at a national level.

At present, DFC offers longer-term financial support that has benefited the commercial banking sector of Sri Lanka with pay-back periods of 12 to 20 years and a grace period of up to four years, they said.

The Regional Infrastructure Office of the US Embassy Colombo - Regional Indo-Pacific Strategy Coordinator Dustin Bikel said the DFC would be willing to receive requests for Green Energy projects in Sri Lanka. “Renewable energy is a key priority, particularly, in Sri Lanka’s infrastructure development,” he said. Bikel said he looks forward to working with the SLPA in the Green Energy space in the future in line with the Authority’s Ports National Master Plan.

Local experts and industrial leaders underscored the importance, from a port perspective, of setting milestones to providing shore power to vessels, setting deadlines for green initiatives, and transitioning from conventional electrification to green energy. It was considered essential to move towards achieving net-zero emissions by 2050. 

The SLPA Chairman expressed his gratitude to the US Embassy delegation, the Development Finance Corporation (DFC), and the industrial experts and stakeholders for their presence and contribution to making this initiative a success. DFC Regional Manager for South Asia Ajay Rao,  the US Embassy Colombo Economic Specialist Joevinie Machado, US Embassy Regional Specialist J.S.A. Arachchi, Access Engineering Chairman Sumal Perera, Access Logistics Park Director Nishan Silva, McLarens Holdings Ltd. Group Chairman Rohan De Silva, South Asia Gateway Terminals CEO Romesh David and Hayleys Advantis Ltd. Managing Director Ruwan Waidyaratne were present at the event.