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ECONOMYNEXT – Sri Lanka’s power minister met with a UN official to discuss financial assistance and green financing available for renewable energy.

Minister of Power and Energy Kanchana Wijesekera met with United Nations Resident Coordinator to Sri Lanka, Marc-André Franche at the Ministry of Power and Energy this morning (18).

“We discussed about the government policy and plans on renewable energy, electricity sector reforms structure, financial assistance and green financing available for renewable energy, a mechanism to assist low income families to set off electricity costs,” Wijesekera said on X (formerly known as Twitter).

Currently, the country’s electricity generation mix is made up of 46.43% renewable resources (hydro, wind, solar, biomass) and 53.57% fossil fuel (coal, oil).

The government’s new policy guideline mentions achieving 70 percent of renewable energy generation by 2030, no capacity addition of coal power plants and achieving carbon neutrality by 2050.

Sri Lanka’s government is in the middle of restructuring the State-owned Ceylon Electricity Board (CEB).

Last week Wijesekera met representatives of 35 CEB trade unions to discuss the ongoing electricity sector reforms.

“Briefed the union members on the progress of the reforms of the electricity sector, structure of the new proposed electricity act, transition timelines, human resource management and transfer plans, employee benefits and pensions, assistance received from the development agencies, establishment of the reform secretariat, establishment of successor companies, Wijesekera said.

Wijesekera also met with senior management of the CEB to detail the proposed structure for the electricity sector, establishment and role of the reform secretariat, transition timeline, transfer plans of employees and assets, and the establishment of successor companies to take over generation, transmission and distribution.

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