Why Sri Lanka? Why Now?
Sri Lanka in the year 2009, has given a boost to the country’s growing Power industry. Power industry became one of the major beneficiaries of country’s rapid economic development. The power and energy sector of Sri Lanka is looking forward to an energy self-sufficient nation by 2030. The government has several active proposals to develop Power facilities and related sectors. This power and energy sector development plan is aligned to the country’s development drive, and has been prepared to provide affordable, high quality and reliable energy for all citizens. So, the visions are to capture the full potential of all renewable and other indigenous resources in order for Sri Lanka to become a nation self-sufficient in energy and it provides a favorable advantage for the investors to invest in Sri Lanka.
Sri Lanka’s objective is to increase the power generation capacity of the country from the existing 4,043 MW to 6,900 MW by 2025 with a significant increase in renewable energy. From 2018- 2037, Sri Lanka plans to add 842 MW of Major Hydro, 215 MW of Mini Hydro, 1,389 MW of solar, 1,205 MW of wind, 85 MW of biomass, 425 MW of oil-based power, 1,500 MW of natural gas and 2,700 MW of coal power into the electricity generation system. The annual total electricity demand is about 14,150 GWh. The annual demand for electricity is expected to increase by 6 to 8 percent. Sri Lanka has plans to add additional coal, renewable and power plants in the next 10 years.