President instructs to focus on renewable energy to meet growing demand: Johnston

COLOMBO (News 1st); President Gotabaya Rajapaksa has instructed to generate 5,000 megawatts of renewable energy sources and add them to the national grid within the next six years.

Minister Johnston Fernando, Chairman of the Cabinet Sub-Committee on Renewable Energy Projects, stated that the Adani Group in India has invested $ 500 million for the first phase of renewable energy projects in Sri Lanka.

The Cabinet sub-committee appointed to expedite renewable energy projects has given its approval for this purpose, the Minister said.

The Minister further stated that the Adani Group will be investing more in renewable energy projects in the country in the future, and added that investments will not be delayed while strict action will be taken against those who try to delay these investments.

Due to the construction of new houses and the establishment of new factories, the demand for electricity is increasing by 5% - 8% annually, and Minister Fernando stated that the Government's focus will be on providing electricity generated by renewable energy to meet the growing need.

The Minister said that the Cabinet Sub-Committee is currently focusing on selecting suitable investors from among the investors interested in implementing the existing identified renewable energy projects, identifying new high potential projects and taking appropriate steps to remove existing legal and other barriers to implementation of renewable energy projects.