ECONOMYNEXT – Sri Lanka’s cabinet of ministers have approved a series of policy guidelines with regard to power generation including a proposal to generate 70 percent of the country’s electricity from renewable sources by 2030.
Other proposals include a decision to forego the construction of new coal power plants and to neutralise net carbon emissions from power generation by 2050, according to a statement from the cabinet office released on Tuesday (02).
In September this year, Sri Lanka joined six other countries in pledging a No New Coal Compact, promising to cease the issuance of permits for new unabated coal power plants after the end of the year.
It has also been decided that “General Policy Guidelines” for the electricity industry should be released in par with the cabinet decision, while the Ceylon Electricity Board (CEB) is to be tasked with formulating a minimum cost long-term generation plan applicable to the period 2022–2041 as per the aforesaid guidelines.
The cabinet has green lit the ‘General Policy Guidelines for the Electricity Industry’ that, the statement said, has been prepared subject to section 5 of Sri Lanka Electricity Act No. 20 of 2009.
The guidelines are to be presented to parliament in due course. (Colombo/Nov02/2021)