Await longer power blackout sans settling burning issues-FRED
Sri Lanka is in for a longer power blackout and a second electricity tariff revision within the next four months if the authorities do not settle the burning issues of the renewable energy generation sector, President of the newly formed Federation of Renewable Energy (FRED) Thusitha Peiris cautioned.
He said that firstly the CEB owes them over Rs. 35 billion in back payments while they also lament that over 300 renewable energy projects are still to be approved due to this the RE sector has been black listed by the banking sector and this will result in local companies shutting down or moving out of the country. “Already we see top engineers in the sector migration. Our contribution to the National Grid is more than Victoria and Randenigala Plants combined.
We are being paid Rs. 17 per unit as against Rs. 107 generated by Furnas oil and we also see a revision in tariff. Give us economically feasible tariffs.”
He said that given their dues and approvals for new projects they can easily double the current RE supply of around 2,400 GWH in two years.
There are around 400 super markets, roof tops, industry places and also more households that can easily install solar power. Past President Small Hydro Power Developers Association, Prabath Wickramasinghe the decision to halt mini hydro was not practical and has led to the aggravation of the current power crisis. He said that the cost to Sri Lanka due to the decision to stop Mini Hydro in 2015 to date is over USD 850 million.
Due to high global oil prices CEB Cost for fuel imports have skyrocketed in 2022 and have spent over USD 2 to 4 billion.
The FRED is an organization specially set up to serve the Renewable Energy Industry in Sri Lanka and represents the Small Hydro Power Developers Association, Wind Power Association, Grid Connected Solar Power Association, and the Bio Energy Association who are engaged in the development and utilization of the different renewable energy technologies and resources in Sri Lanka. its set up under the Chamber of Commerce to have a bigger voice,” said Vice President FRED, Manjula Perera.