The Sectoral Oversight Committee (SoC)on Economic Development and International Relations recently examined the Microfinance and Credit Regulatory Authority Bill and the proposed amendments thereto.

The SoC met in Parliament under the chairmanship of Member of Parliament Ms. Lakmali Hemachandra, (Attorney at Law). A group of officials representing the Central Bank of Sri Lanka, the Department of Development Finance of the Ministry of Finance, Planning and Economic Development, and the Legal Draftsman’s Department participated in the meeting.

The Microfinance and Credit Regulatory Authority Bill was presented to Parliament for its First Reading on 26.11.2025. Accordingly, the Committee held an extensive discussion on the amendments that have been proposed to the Bill. The Chair of the Committee, Hon. Member of Parliament Ms. Lakmali Hemachandra, (Attorney at Law) stated that it is important to give careful and further consideration to this Bill and that discussions on the proposed amendments will be held again on a future date.

Members of Parliament Lakshman Nipuna Arachchi, Thilina Samarakoon, Nilanthi Kottahachchi, Attorney at Law, Sagarika Athauda, Attorney at Law, Suranga Ratnayaka, and Wijesiri Basnayake also participated in this Committee meeting.

The Trincomalee Power Company (TPC)—a 50:50 joint venture between the Ceylon Electricity Board (CEB) and India’s NTPC—has called for international tenders for a 50-megawatt solar power plant with battery storage at Sampur in Trincomalee, in a move expected to draw strong investor interest amid Sri Lanka’s accelerating shift towards utility-scale renewables.

Tender documents invite bidders to undertake the complete engineering, procurement and construction (EPC) of the ground-mounted solar photovoltaic plant, together with a minimum 20 MW / 20 MWh battery energy storage system, positioning the project as a commercially attractive, grid-stabilising asset in the Eastern Province.

Bids will be accepted until February 18, 2026, and opened on February 19, with the successful contractor required to complete the project within 21 months of award—offering investors clear timelines and execution certainty, officials said.

Energy sector sources noted that the project benefits from sovereign backing through the CEB and the balance-sheet strength and technical credibility of NTPC, India’s largest power utility, significantly lowering counterparty and execution risk for developers and financiers.

The Sampur site carries strategic importance in Sri Lanka’s energy landscape. Initially designated for a 500 MW coal-fired power plant under an earlier Indo-Lanka agreement, the project was abandoned in 2016 following environmental opposition. Its re-development as a solar-plus-storage facility signals a policy pivot towards cleaner generation while unlocking the value of a long-idle, infrastructure-ready site.

Analysts said the inclusion of battery storage enhances the project’s bankability by improving dispatchability and grid reliability—key considerations for investors as Sri Lanka integrates higher shares of intermittent renewable energy.

The Sampur solar project also strengthens India–Sri Lanka energy cooperation at a time when regional power security, supply diversification and climate-aligned investments are gaining prominence among institutional investors.

Sri Lanka’s target of sourcing 70% of electricity from renewables by 2030 has sharpened demand for large, utility-scale projects backed by state entities. Market observers said the Sampur project could emerge as a benchmark transaction for future solar and storage investments, particularly in repurposing former thermal power sites into commercially viable clean-energy assets.

By Ifham Nizam

A coordinated environmental cleanup programme was conducted recently at the Maha Oya–Kammalthota Estuary, in Kochchikade, removing substantial debris and waste deposited by the recent floods along the riverbank and in estuarine waters.

The initiative was organised by the Maris Eco Friends Society of Maris Stella College, Negombo. It saw active participation from student prefects, scouts, Red Cross members, and society volunteers, supported by teachers and members of the Maris community.

The programme was carried out under the guidance of Maris Stella College Principal Rev. Br. Sunanda Alwis, Marist Provincial Rev. Br. Nicholas Fernando, and Parish Priest Rev. Fr. Hemantha. Their presence, alongside dedicated staff, including Society Master-in-Charge Jude Fernando, helped motivate the volunteer teams.

Student leaders, including Society President Thenuka Wijethunga, played a key role in coordinating the effort, demonstrating the impactful role youth can play in local environmental conservation.

The cleanup also benefited from the support of Dr. Geethal Siriwardane of the University of Sri Jayewardenepura, environmental advocate Sunil Jayakodi, and the Poruthota Fisher Society — highlighting the vital link between a healthy estuary and the community livelihoods it supports.