Connect with us

Business

ADB urges Sri Lanka to act without delay on renewables

Published

on

Takafumi Kadono, Country Director – Asian Development Bank speaks at the panel discussion

Local stakeholders say SL ‘missed the bus’ on power sector reforms

ADB Country Director says, ‘standing still won’t resolve anything’

By Sanath Nanayakkare

ADB, in partnership with the Department of National Planning of the Ministry of Finance, Planning and Economic Development, organised a knowledge event in Colombo on 30 January 2025.

The event, held under ADB’s Serendipity Knowledge programme (SKOP) for Sri Lanka, focused on the reforms and financial sustainability of Sri Lanka’s power sector and the growth of its renewable energy (RE) sector.

The event was attended by government officials, the private sector, academia, think tanks, and development partners.

The presentations and the panel discussions at the event created a comprehensive and valuable outcome through the cross-pollination of global experiences, perspectives and insights.

During the event, several Sri Lankan speakers said that the country had ‘missed the bus’ and wasn’t able to make the reforms journey in good time. However, ADB Sri Lanka Country Director, Takafumi Kadono’s optimistic view was that as the topic was not new to Sri Lanka, the stakeholders of the sector and the government of Sri Lanka can bring it up to speed by accelerating the reforms.

Shiranthi Rathnayaka, Director General- Department of National Planning Photo courtesy: ADB

Responding to a question, the ADB Country Director said,” The eminent speakers here quantified all kinds of challenges in the RE sector including smart grid technologies, transmission, distribution upgrades, net metering systems, complex grid management systems, grid digitalization, cost-reflective pricing, policy frameworks and regulatory barriers.

Having listened to all that, the key takeaway for me is, we shouldn’t be afraid of introducing the necessary reforms to address these challenges. We should not stand still just because there are uncertainties. That’s not going to resolve anything. It is in the hands of the CEB, LECO, the policymakers and private sector stakeholders to capture the whole gamut of electricity consumers and execute better RE planning, better RE investments etc., to reduce the electricity tariffs, and to achieve Sri Lanka’s RE and net zero targets. I think that the consensus is there to move forward this time around. The ADB will continue to support Sri Lanka with ADB-financed energy projects and technical assistance for its broader energy transition strategy.”

Shiranthi Rathnayaka, Director General, Department of National Planning at the Ministry of Finance speaking at event, thanked the ADB for its role in putting together the insightful workshop on ” Power Sector Reforms and Renewable Energy Growth.”

She said that Sri Lanka’s energy sector stands at a crucial moment, requiring to transform challenges into opportunities for sustainable growth.

“Our journey so far has laid a strong foundation, but achieving the ambitious targets of 60% renewable energy by 2025 and 70% by 2030 will require firm commitment, innovation, and collaboration among stakeholders. With a clear vision, we are determined to enhance energy security, diversify energy sources, and modernize infrastructure to meet rising demands while ensuring affordability,” she said.

“At this ADB knowledge programme, we have explored best practices from global success stories, innovative policy options, and the potential of digitalization and renewable energy to transform our power sector into one that is resilient, sustainable, and inclusive. As we move forward, let us build on the momentum created here, ensuring that the strategies, ideas, and partnerships initiated today will lead to tangible outcomes tomorrow,” she noted.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

JAT Holdings celebrates the 6th Pintharu Abhiman Convocation, uplifting over 800 painters through NVQ certification

Published

on

JAT Holdings PLC marked a significant milestone with the successful conclusion of the 6th JAT Pintharu Abhiman Convocation, recognising more than 800 painters who have earned their NVQ Level 3 qualification, an internationally recognised professional certification delivered in partnership with the National Apprentice and Industrial Training Authority (NAITA).

JAT Pintharu Abhiman was established to uplift Sri Lanka’s painter community through structured skills development, professional recognition and stronger earning potential. This year’s graduating cohort reflects the programme’s expanding reach and the tangible changes it continues to deliver for individuals, families and communities.JAT in collaboration with NAITA has streamlined the certification process such that what would traditionally take up to six months has been refined into an efficient and high-impact three-day assessment model. This approach ensures painters can obtain their qualification without sacrificing extended periods of work, while JAT fully absorbs the certification cost, removing financial barriers and enabling wider access to formal recognition.

Research conducted amongst NVQ qualified participants shows meaningful improvements in livelihoods, with 90 percent reporting increased personal confidence and 76 percent noting an improvement in their overall standard of living. This uplift demonstrates the long-term value of industry-aligned professional training.

A noteworthy moment at this year’s convocation was the recognition of four female painters who received their NVQ certifications. Their achievement marks an important step in broadening female participation in a field that has historically been male dominated, reinforcing JAT Holdings’ commitment to creating inclusive pathways for technical development and sustainable employment.

Speaking at the ceremony, Mr. Wasantha Gunaratne, Director Sales and Technical (South Asia) of JAT Holdings PLC, said:

“Pintharu Abhiman is fundamentally about development, giving painters the knowledge, structure and recognition they need to progress in their careers. By equipping over 800 painters with an internationally recognised NVQ qualification, we are not only strengthening the technical standards of the industry but also creating real pathways for entrepreneurship and financial independence. It is especially encouraging to see that one in five certified painters have already begun building their own businesses. These are the outcomes that matter because they show that when we invest in skills, we unlock opportunity. JAT remains committed to expanding these avenues so every painter has the chance to grow, lead and build a sustainable future.”

The 6th JAT Pintharu Abhiman Convocation underscores JAT’s continued dedication to uplifting the painter community, enhancing industry standards and supporting national skills development through accessible, professionally recognised qualifications.

Continue Reading

Business

Industry bodies flag gaps in Draft National Electricity Policy

Published

on

The Ceylon Chamber of Commerce, together with the American Chamber of Commerce, Exporters Association of Sri Lanka, Federation of Renewable Energy Developers, Joint Apparel Association Forum, National Chamber of Commerce of Sri Lanka and Sri Lanka Association for Software and Services Companies, has submitted joint observations on the Draft National Electricity Policy, highlighting that several key issues have not been adequately addressed.

Whilst recognizing the need for reform in the electricity sector, the submission flags several gaps in the draft policy that require closer attention. Key areas such as affordability, decarbonisation commitments, incentives for renewable energy, competition, and the long-term financial health of the sector are either missing or not addressed in sufficient depth.

The proposed tariff revisions outlined in the draft energy policy raise concerns, particularly regarding the removal of cross-subsidies and the proposal to restrict subsidies exclusively to households consuming less than 30 kWh per month. Without detailed analysis, these measures could weaken access to sustainable and affordable energy and potentially lead to fiscal risks.

The provisions allowing uncompensated curtailment, removing feed-in tariffs, and imposing mandatory time-of-use tariffs on rooftop solar users could make renewable energy projects un-bankable for international lenders, thereby increasing the cost of capital for Sri Lanka.

Calling for a more future-focused approach, the submission stresses the need for a policy that reflects modern electricity systems, including planning for the energy transition, energy storage, market competition, cross-border electricity trading, and emerging technologies.

The Chambers and Associations request a comprehensive revision of the Draft National Electricity Policy, alignment with the Electricity Act, and resubmission following substantive consultation, and reiterate support to engage constructively with policymakers to shape a policy that supports affordability, investment confidence, and Sri Lanka’s long-term energy security.

Continue Reading

Business

Bank of Ceylon partners with 36th APB Sri Lanka Convention

Published

on

Bank of Ceylon (BOC) partnered with the 36th Annual Convention of the Association of Professional Bankers (APB) Sri Lanka, reaffirming its commitment to promoting professional excellence and knowledge sharing within the banking sector. The partnership was officially handed over by Sameera D. Liyanage, Chief Marketing Officer of Bank of Ceylon and M. R. N. Rohana Kumara, Deputy General Manager Business Revival Unit of Bank of Ceylon, reflecting BOC’s focus on empowering banking professionals and supporting the sustainable growth of Sri Lanka’s financial services industry.

Continue Reading

Trending