President emphasises need to invest in renewable energy

Emphasising on the importance of investing on the renewable energy sector of Sri Lanka, President Wickremesinghe has expressed confidence in the sector's potential and benefits to stakeholders and consumers in the upcoming decades.

He expressed  his views during his speech at the "Green Technology Forum" in Davos, Switzerland.

“Sri Lanka has ambitious plans to fulfil its sustainable, green development agenda. By 2050 the country has committed to achieving net zero. The accelerated renewable energy plan is a key component of this overall effort and is also an essential step on the path towards energy security” he said.

“Renewable energy will also drive down costs of generation since at present Sri Lanka is compelled to rely on high cost heavy fuels during the dry season. Sri Lanka is in the process of establishing an international climate university, which will continue to unlock opportunities in green energy” he added

“It is clear that Sri Lanka’s renewable energy policy direction is underpinned by multiple motivations and drivers. Therefore investors can expect a high degree of policy continuity in this sector going forward as well. This is the best time to invest in Sri Lanka’s renewable energy journey, and I have no doubt such investments will generate significant value for shareholders and Sri Lanka’s consumers over the next several decades” he said.