ADB to continue assistance to develop renewable energy sector in SL
The Asian Development Bank will continue to provide assistance to develop the renewable energy sector in Sri Lanka, said Takafumi Kadono, Country Director, Sri Lanka Resident Mission addressing the ADB’s Serendipity Knowledge Program ‘Driving Power Sector Reforms for Enhanced Renewable Energy Growth and Sector Performance’ event held in Colombo yesterday.
He said the renewable energy investment space is mainly for the private sector to handle under a transparent bidding process and the ADB will support the government in achieving 70% renewable energy status by 2030.
He said they want to ensure that the intention and momentum is there to achieve this target.
Kadono said with regards to energy technology acquisition the bus has been missed and one cannot catch that bus, but the sector should embark on the technologies already available.
He said it’s the duty of the industry to bring down tariffs and in addition to building competition and transparency there should be better planning and timely investments.
“Currently we work very much with the government to support reforms in the renewable energy sector and the operationalization of national system operator (NSO) through technical assistance.”
Three loans were provided for this purpose in the excess of USD 300 million in 2024.
The event, held under ADB’s Serendipity Knowledge program (SKOP) for Sri Lanka focused on reforms and financial sustainability of Sri Lanka’s power sector.
It aimed to contribute to the dialogue to prepare the country for higher shares of renewable energy and improve customer engagement through various renewable energy and power sector policy reforms and infrastructure projects, including grid digitalization.
Shavindranath Fernando, Former President, Sri Lanka Institute of Engineers, Pubudu Niroshan, Director General, Power Sector Reform Secretariat, Ministry of Energy, Damitha Kumarasinghe, Director General, Public Utilities Commission Sri Lanka and Takafumi Kadono, Country Director, Sri Lanka Resident Mission, ADB participated in the panel discussion.
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