Renewable energy industry says misalignment in Sri Lanka’s energy strategy

The Federation of Renewable Energy Developers (FRED) on Tuesday urged the government to reverse its equity premium reduction for Ground Mounted Solar PV, reverse feed-in tariff reductions for renewable energy projects, prioritise BESS solutions, discourage new power plant development, ensure accurate data and transparent methodologies, and engage in open dialogue with stakeholders.

At a media conference in Colombo, FRED officials said that these actions, including discouraging key renewable energy sources and reducing feed-in tariffs, threaten to derail the nation's progress towards a sustainable and secure energy future.

"FRED is deeply concerned about the government's recent decision in pricing the Feed in Tariff by temporarily reducing the equity premium for Ground Mounted Solar Photovoltaic (PV) projects only in comparison to other resources. This policy, ostensibly aimed at addressing challenges faced by system operators due to the growth of solar installations, reveals a fundamental misalignment in Sri Lanka's energy strategy," an official said. (DEC)