The national grid is at risk of losing 1,251 MW of renewable energy

Sri Lanka
2 weeks ago
Kanesu Balasuresh

Kanesu Balasuresh

Renewable Energy Associations of Sri Lanka, including small water, wind, solar, and bio-manufacturers, and the Solar Industry Association of Sri Lanka have stated that Sri Lanka's national grid is at risk of losing 1,250.9 MW of electricity generated by renewable energy. Developers, Ceylon Electricity Board (CEB) Rs. They have provided 22 billion worth of electricity since August 2021.

Attending a press conference yesterday (27), the representatives of the respective unions said that at this critical juncture in the country's worst economic situation, they were under pressure to suspend operations due to the inability to fulfill their obligations related to important payments. Including employee salaries, maintenance, and loans.

"The net effect is that the country will lose this clean energy, but it will lead to a severe economic crisis because of the astronomically high cost of burning fossil fuels to buy thermal power. About Rs 90 per unit, with an average cost of Rs. 15.77. This will aggravate the foreign exchange crisis and make the country unbearable at this time, ”they said.

In total, CEB spent about Rs. Renewable energy operators have been paid 22 billion rupees, due to which they have not even been able to pay the salaries of about 7,000 employees, which could lead to a severe social crisis. The banks claimed to have lent about Rs. 60 billion to the industry, they said, adding that the service for these loans will be discontinued soon.

"It will also affect the banking system," they warned."On the other hand, there are about 550 MW projects in the pipeline for the upcoming financial closure, and if they are not funded and developed, the country will switch to more expensive fossil fuels for electricity, which will further exacerbate the economic crisis. Delayed money will drive investors away.

They added that the CEB should focus on promoting cost-effectiveness and renewable energy by creating greater flexibility in decision-making at the Sustainable Energy Authority, the Ministry of Power and Energy, the Ministry of Finance, the Attorney General's (AG) Department, and the Public Utilities Commission. Sri Lanka (PUCSL).

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