Sajith discusses renewable energy investment opportunities with French Ambassador

Opposition Leader Sajith Premadasa has highlighted the potential for France, including through its development agency, the French Development Agency (AFD), to support renewable energy projects in Sri Lanka and encourage greater investment in the sector.

Premadasa made these remarks during a meeting with French Ambassador to Sri Lanka Rémi Lambert and representatives of the renewable energy industry at the Opposition Leader’s Office, where discussions focused on the challenges facing the sector and opportunities for future development.

The Opposition Leader encouraged greater collaboration between French investors and Sri Lankan renewable energy entrepreneurs, particularly in projects aligned with the government’s development priorities.

During the discussion, Premadasa also highlighted the importance of achieving Sri Lanka’s national renewable energy targets, including the goal of generating 70% of the country’s electricity from renewable sources by 2030.

He raised concerns expressed by industry stakeholders over changes to rooftop solar payment mechanisms, particularly the transition from net metering and net accounting to the net-plus scheme, which he said had created uncertainty among solar entrepreneurs and affected investment viability.

Premadasa further drew attention to delays in issuing solar-related licences and other regulatory challenges, stressing the need for a stable and predictable policy environment to attract both local and foreign investment.

He also emphasised the importance of maintaining stable electricity tariffs while ensuring an uninterrupted, high-quality and affordable energy supply for the country.

The Opposition Leader noted that expanding the solar energy industry could create new entrepreneurial opportunities for young Sri Lankans, while also contributing towards the country’s long-term ambition of transitioning to a fully renewable energy-based system.

Premadasa stressed that renewable energy development should transcend party politics and called for stronger cooperation among the government, investors, industry stakeholders and international development partners.

French Embassy Economic Counsellor Philippe Fouet, Political Officers Anna Bellerck and Dinusha Ileperuma, along with representatives of the renewable energy industry, also participated in the discussion. (Newswire)

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