Sajith, French envoy discuss renewable energy investment

Sri Lanka's Opposition Leader Sajith Premadasa engaged in a meeting with French Ambassador Rémi Lambert to discuss the renewable energy sector and potential investment opportunities. The gathering also included representatives from the local renewable energy industry, as well as French Embassy Economic Counsellor Philippe Foute and other notable stakeholders.

Premadasa stressed the urgency of attaining Sri Lanka's renewable energy objectives, including the target of generating 70% of the nation's electricity from renewable sources by 2030. He revealed that industry representatives had expressed concerns over recent changes in payment and accounting methods for rooftop solar power, particularly the government's transition from net metering to a net-plus scheme.

This policy shift, according to Premadasa, has introduced uncertainty among solar energy entrepreneurs and potentially impacted the sector's investment viability.

Premadasa also highlighted the challenges faced by the renewable energy industry, such as delays in issuing permits for solar power projects and other regulatory obstacles. He emphasized the necessity of a consistent and stable policy environment to encourage investments in renewable energy sources.

The Opposition Leader further underscored the importance of stable electricity tariffs and consistent policies to attract foreign investment. He pointed out that Sri Lanka requires a continuous, reliable, high-quality, and affordable electricity supply to meet its growing energy demands.