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Groundwork for a ‘stable, investment-ready power sector’

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Minister Eng. Kumara Jayakody.

Sri Lanka is laying the groundwork for a more stable and investment-ready power sector, with both short-term fixes and long-term infrastructure developments to safeguard the national grid, Power and Energy Minister Eng. Kumara Jayakody yesterday said.

The minister, responding to a question raised by MP Kavinda Jayawardena, stressed that energy security is no longer just a technical challenge but an economic imperative. “Ensuring the stability of the national electricity grid is critical, not only for households but also for industries and investors who demand reliability and predictability in energy supply, he said.

Among the immediate measures, rooftop solar systems are being upgraded with inverter parameter adjustments to prevent instability. At the same time, technical and regulatory changes are being introduced to encourage on-site consumption of solar energy rather than feeding everything into the grid.

“This shift will reduce stress on the system while creating new opportunities for rooftop solar investors and equipment suppliers, the minister explained.

Other near-term measures include integrating battery storage into renewable plants under a time-based tariff system, revising technical parameters for spinning reserves and temporarily curtailing power from wind and solar farms during low-demand days.

“These interventions may look highly technical, but what they really mean is that the market is being opened for investment in storage technologies, grid-balancing equipment, and smarter demand management solutions, Jayakody said.

Looking further ahead, the government is moving on major infrastructure projects, such as a pump storage power plant at Ma Oya, large-scale battery plants of 100 MW and 160 MW (with Asian Development Bank financing), and the establishment of a dedicated Renewable Energy Control Unit.

“These are billion-rupee projects that will not only secure grid stability but also attract private and foreign investment into Sri Lanka’s energy sector, Jayakody stressed. “ADB-backed tenders are being prepared, which is a strong signal to the market that Sri Lanka is serious about creating a predictable investment environment.”

He added that modernisation of the transmission system, the addition of synchronous condensers and STATCOMs, as well as the introduction of smart meters with remote monitoring and disconnection functions, would further reduce investor risk.

Jayakody emphasised that energy stability directly impacts economic competitiveness. “Investors look at two things: policy consistency and infrastructure reliability. By strengthening the grid, we are creating the conditions for sustained growth and investor confidence, he said.

By Ifham Nizam



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Ceylinco Life agent among three global finalists for award

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Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

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CEAT Kelani retains AA+ rating for sixth year

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CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

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Commercial Bank leads nationwide aquatic clean-up drive

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Sanath Manatunge, Managing Director/CEO of Commercial Bank and some of the Bank’s staff participating in the coastal cleanup programme

Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.

Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.

The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.

Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.

The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.

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