There is vast potential for investments by Indian companies in the renewable energy (RE) sector in Sri Lanka, said Secretary, Ministry of New and Renewable Energy India, Shri Bhupinder Singh Bhalla.
This is due to Sri Lanka working towards achieving an ambitious target of 70% generation through RE by 2030.
He was speaking in Colombo at the first meeting of the Joint Working Group (JWG) on Renewable Energy constituted under the MoU on Cooperation in the field of Renewable Energy signed between India and Sri Lanka during the visit of President Ranil Wickremesinghe visit to India in July last year.
The Indian side agreed to extend all possible technical assistance to Sri Lanka in the areas of solar, wind, biomass and grid connection by offering training in premier Indian institutions such as the National Institute of Solar Energy, National Institute of Wind Energy and National Institute of Bio Energy.
He also pledged capacity building support for evaluation of proposals and training of Sri Lankan officials by India.
The High Commissioner of India to Sri Lanka, Shri Santosh Jha, officials from High Commission, Secretary, Ministry of Power and Energy, Dr. Sulakshana Jayawardena and representatives of the Ceylon Electricity Board and Ministry of Foreign Affairs were also present.
The Indian delegation also comprised 17 members of the Confederation of Indian Industries (CII) representing major renewable energy companies in India.
During the meeting, the Indian delegation gave detailed presentation on India’s achievements in the renewable energy sector, citizen-centric schemes offered to encourage investments in the renewable energy sector, the National Green Hydrogen Mission and India’s cross border electricity trade.
The Indian delegation also called on Minister of Power & Energy Kanchana Wijesekera and discussed the entire gamut of existing collaboration in the renewable energy sector and ways to further expand it.
Minister invited more Indian companies to invest in Sri Lanka and help harness the vast renewable energy potential for export to India in the future.
The High Commission of India also organized a business event- “Energizing India-Sri Lanka ties through cooperation in Renewable Energy” in collaboration with the Ceylon Chamber of Commerce and CII which saw participation of industry leaders from India and Sri Lanka in the energy sector.
