Sri Lanka's Solar Energy Strategy: Policy Reforms and Investment Opportunities
Sri Lanka aims to enhance its solar capacity by 4 gigawatts and 650 megawatt-hours of storage by 2030, requiring streamlined policies for approvals and investment. The shift towards renewables is critical to reduce dependence on diesel amid rising global energy prices.
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Sri Lanka plans to expand its solar capacity by 4 gigawatts and add 650 megawatt-hours of battery storage by 2030, with policy reforms necessary for attracting private investment. Currently, 17 agencies are involved in solar project approvals, which complicates the process; a digital navigator is being developed to streamline this.
The country has installed approximately 1,000 megawatts of solar, primarily from rooftop systems. International Solar Alliance supports Sri Lanka's transition to renewables, including initiatives for floating solar and agrivoltaics. The focus on reducing diesel dependency is critical, with an emphasis on enhancing electrification and integrating energy sources domestically to ensure energy security.
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