Says Dilmah Chairman Sri Lanka is uniquely positioned to capitalize on Asia’s burgeoning $5 trillion green market, according to Dilmah Tea Chairman Dilhan Fernando. With global consumers increasingly prioritizing sustainability and Western companies struggling to meet these demands, Sri Lanka stands to benefit from the substantial ESG (Environmental, Social, and Governance) funds available globally. Fernando
Sri Lanka will set the rate for rooftop solar electricity at 27 rupees per unit starting July 2024, as announced by Power Minister Kanchana Wijeskera. This rate is intended to ensure profitability for solar operators while considering recent global price changes and local economic conditions. Previously, the rate was set at 37 rupees per unit
WindForce PLC and Vidullanka PLC have entered into a definitive share sale and purchase agreement with Hi-Energy Services Ltd. on 11th July to acquire 36,500,000 ordinary voting shares of Solar Universe Ltd., held by Hi-Energy Services Ltd., for Rs. 370 million. Both WindForce PLC and Vidullanka PLC will invest Rs. 185 million each to acquire
The Export Development Board (EDB) has formed a strategic partnership with Switzerland’s State Secretariat for Economic Affairs (SECO) to implement the second phase of the Global Program on Textile and Clothing (GTEX2), aimed at enhancing Sri Lanka’s apparel sector. This five-year program, running from 2024 to 2027, is funded by the Swiss Government and organized
Power and Energy Minister Kanchana Wijesekera announced a revised payment system for rooftop solar panels and other renewable energy projects, effective from July 1 this year. The payment method for projects initiated before this date remains unchanged. The new 20-year fixed tariff for rooftop solar panel projects is Rs. 27.06 per unit for installations up
Sri Lanka will reduce the high feed-in tariffs offered to renewable energy developers following low prices from a 50 MW tender for a power plant in Mannar, according to Minister Wijesekera. “With the new competitive bids coming in, the Ministry of Power & Energy has already taken steps to revise the feed-in tariff rates and
Sri Lanka is making significant strides towards increasing its renewable energy capacity with the announcement of two major projects. Power and Energy Minister Kanchana Wijesekera signed a Power Purchase Agreement (PPA) for a 150-megawatt (MW) ground-mounted solar project in Hambantota. This project, representing a $150 million investment, will be developed at the Solar Energy Park