Energy

Sri Lanka Seeks Investors for Nuclear Power Plants to Meet Future Energy Needs

Sri Lanka is taking steps to incorporate nuclear power into its energy mix to address growing electricity demands, combat climate change, and ensure energy security. Preparatory work has begun for the country’s first nuclear power plant, with legislation under review and plans to invite investor interest soon.

The Sri Lanka Atomic Energy Board (SLAEB) Chairman, Prof. S. R. D. Rosa, revealed that a Cabinet Paper has been forwarded to the Attorney General’s Department for building three 900-megawatt nuclear plants. The plants, expected to come online after 2035, will be executed by private companies at their cost, with the government purchasing the electricity at an agreed rate.

The International Atomic Energy Agency (IAEA) has endorsed Sri Lanka’s nuclear plans, with six potential sites pre-selected, including Pulmoddai. Russia, along with the US, Denmark, China, and India, has expressed interest in providing technology, particularly Small Modular Reactors (SMRs). Russia is also expected to manage nuclear waste for Sri Lanka.

Prof. Rosa emphasized the stability of nuclear energy compared to intermittent sources like solar and wind, making it a key alternative as the country plans to phase out coal by 2030. The SLAEB is also training professionals to build a skilled workforce for the future energy sector.