Connect with us

News

Fueling a way forward for small and medium enterprises

Published

on

Providing financial and technical assistance towards the switch to renewable energy technologies

The United Nations Development Programme (UNDP) in Sri Lanka together with the Sri Lanka Sustainable Energy Authority (SLSEA) has commenced an initiative to strengthen rural economies, increase forest cover, improve the living standards of rural women, and sustainable industries and small and medium enterprises in the country, by increasing the growth of suppliers for clean and modern biomass technology in line with the energy policy.

The UNDP said: “Sri Lanka aims to be a nation more resilient to shocks in the energy sector by 2030.  The objective is to increase the power generation capacity of the country from the existing 4,043 MW to 6,900 MW by 2025 with a significant increase in renewable energy. Around 40% of Sri Lanka’s primary energy requirements are met by biomass energy, which is a significant source of energy for both households and businesses. Being an indigenous source of energy, it contributes to the country’s energy security and provides rural farmers with an extra source of income. Sri Lanka’s economic crisis has led to hardships for households and businesses to source the required energy for production. Renewable energy technologies are thus a timely solution to the challenges faced by many small and medium enterprises (SMEs).

 Building on experiences, best practices, and lessons learned from Phase I, the Biomass Project Phase II – Biomass Energy 2022 is an initiative of the Sri Lanka Sustainable Energy Authority (SLSEA) together with the United Nations Development Programme (UNDP) in Sri Lanka. The project aims to strengthen rural economies, increase forest cover, improve the living standards of rural women, and sustainable industries and SMEs in the country, by increasing the growth of suppliers for clean and modern biomass technology in line with the energy policy.

 As a part of the project, a series of training programmes on renewable energy technologies for SMEs and financial institutions will take place in partnership with Standard Charted Bank (SCB). The second of the training programmes for 50 SMEs was held recently in Kandy, Sri Lanka.

 Speaking at the programme, Harsha Wickramasinghe, Acting Director General of SLSEA noted, ‘’In the present economic crisis, the hardest hit segment of our business community is undoubtedly the SME sector. The real issue affecting all these small businesses can be traced to the energy supply, either in the transport requirements or in their process energy requirements, which are mainly electricity and fuel for heating applications. Providing indigenous solutions, such as biomass and solar-based energy technologies, will contribute in no small measure to rebuilding our SME sector. In this regard, the support provided by SCB and UNDP could be very useful’’.

 Addressing participants at the workshop, Sampath Ranasinghe, Programme Coordinator – Energy and Waste, UNDP in Sri Lanka emphasized that “UNDP is committed to supporting SMEs to increase the use of renewable energy technologies through sustainable models for energy production. In the prevailing economic crisis, renewable energy technology is the most cost-effective source of energy which will create new business models and opportunities for SMEs by enabling them to benefit from reduced costs and sustainability enhancements”.

The programme, which focused on entrepreneurs from various industries ranging from tea, spice, hotel, and food and beverage industries, was developed to increase awareness and build the capacity of SMEs on renewable energy technologies in the market.

 Head of Corporate Affairs, Brand & Marketing of Standard Chartered Sri Lanka, Anuk De Silva said, “As a global bank, we are constantly interested in promoting sustainability and green initiatives within our markets and across the globe. Keeping in line with the Group’s agenda on achieving net zero by the year 2050, we are honoured to have partnered with the UNDP to share knowledge and training on Biomass and renewable energies, which is a very timely and relevant need.”

The Biomass Energy 2022 project will increase the use of biomass energy in Sri Lanka for power generation, benefitting local households, farmers, and the national economy. The project will further expand biomass production to agricultural waste and develop collection systems to process 100,000 tons of agricultural waste annually, to be given to industries using biomass as an energy source. The next training programme for SMEs will be held in October 2022.



Continue Reading
Advertisement
Click to comment

Leave a Reply

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

News

Lanka enters new phase of prosecutions as hurdles clear

Published

on

MONETABRIEF –The prosecution of high-profile individuals from the former Rajapaksa administrations is set to escalate this month with the clearing of legal hurdles and administrative bottlenecks, according to officials involved in the process.

Former president Gotabaya Rajapaksa’s attempt to secure an order preventing his arrest in connection with the Easter Sunday massacre was turned down by the Court of Appeal on Thursday.

An overseas travel ban has been in operation against Rajapaksa since June, but the Criminal Investigations Department made no move to question him. He instead filed a writ application seeking an order preventing his possible arrest.

President of the Court of Appeal Rohantha Abeysuriya noted that the court would not interfere with the investigative process. Any attempt by the court would amount to an obstruction of the investigation.

In an unrelated case, the same court rejected an application by opposition legislator Dilith Jayaweera seeking the quashing of a contempt charge filed against him by the Fort magistrate. The charges against Jayaweera and a few other opposition politicians are expected to be taken up in the coming week.

Jayaweera and other opposition politicians — Wimal Weerawansa, Udaya Gammanpila, Sugeeshwara Bandara, and Asanka Navaratne

— were hauled up over their remarks relating to the arrest of Suresh Sallay, the former head of the State Intelligence Service.

SLPP academic Mahinda Pathirana is also charged over his public comments about Sallay’s arrest in February under the draconian Prevention of Terrorism Act.

Former president Mahinda Rajapaksa’s son, legislator Namal Rajapaksa, is already in remand custody following his arrest in connection with three cases of bribery and money laundering relating to the 2013 Airbus deal and the Krrish property development in Colombo.

Although Namal has been granted bail in the Airbus money laundering charge, he is in custody until October 13 over the bribery charge relating to the same Airbus transaction. His arrest is under a provision of the Anti-Corruption Act that does not allow a magistrate to grant bail unless under exceptional circumstances.

Meanwhile, his mother Shiranthi Rajapaksa, who had been asked to report to the Financial Crimes Investigations Division on September 24, was a no-show and was yet to return from Singapore.

She had travelled overseas on September 16, and a family spokesman said she was handed the FCID summons at the departure lounge of Bandaranaike International Airport just before she boarded a flight to Singapore.

At the time, the family spokesman said she was due to return in three days.

“We will see greater momentum in the legacy cases in the coming weeks,” an official involved in the prosecutions said.

“We have cleared the legal hurdles to press ahead with more arrests,” he said.

“We are working on a few administrative issues which will be resolved very soon.”

The controversial prosecution of former President Ranil Wickremesinghe is dragging on without him being formally indicted since his arrest in August last year. The Fort magistrate has listed the case again for November 11, when the Attorney-General is expected to report on his decision regarding action against Wickremesinghe.

Continue Reading

News

Police warn: Court evaders face property seizure

Published

on

Police have reminded the public that courts have the power to take legal action against individuals who evade arrest or remain in hiding after warrants have been issued against them.

Police said that under Section 60 of the Code of Criminal Procedure Act No. 15 of 1979, a court could issue a written proclamation requiring a person evading arrest under a warrant to appear at a specified place and time.

The proclamation must allow the person at least 30 days to appear before court, Police said.

If the person fails to appear even after the proclamation has been issued, the court may take further action under Section 61 of the Act.

This includes issuing an order for the attachment of the movable or immovable property belonging to the person concerned.Police issued the reminder highlighting the legal measures available against persons who deliberately evade arrest and remain in hiding after warrants have been issued.

Continue Reading

News

Nearly 20 Iranian tankers stranded off Lanka amid US sanctions

Published

on

Around 20 Iranian oil tankers are reportedly stranded about 15 nautical miles off Sri Lanka’s southwestern coast, with several vessels facing shortages of food, fuel and fresh water amid tightening US sanctions and maritime restrictions, The Wall Street Journal reported.

According to the report published on Thursday (1), US officials have in recent weeks urged Sri Lanka to prevent local vessels from supplying essential provisions to the tankers and their crews.

The report, citing Sri Lankan Government documents and companies involved in supplying the vessels, said the US had raised concerns over assistance being provided to the sanctioned tankers.

The situation follows the United States’ decision to reimpose a maritime blockade of the Strait of Hormuz in July, which has reportedly left dozens of Iranian and Iran-linked tankers involved in transporting sanctioned oil to China stranded near Asian countries, including Sri Lanka and Malaysia.

Most of the vessels are reportedly empty tankers that had previously transported Iranian crude to Asia, often through ship-to-ship transfers, before preparing to return to Iran for additional cargo.

The WSJ reported that the US Embassy had warned Sri Lanka in August that it was monitoring 19 Iranian tankers off the country’s western coast and had raised the possibility of secondary sanctions against companies providing services to sanctioned vessels.

Sri Lankan authorities have maintained that the vessels are located outside the country’s 12-nautical-mile territorial waters and that the Government is not providing them with logistical assistance.

Meanwhile, shipping companies told the WSJ that obtaining approval to supply essential items, including food, drinking water and fuel, as well as repair services, to the Iranian vessels had become increasingly difficult.

Separately, Reuters reported in late August that 27 sanctioned Iran-linked tankers were waiting off Sri Lanka without cargo.

The Trump administration has also imposed additional sanctions on Iran and warned countries and companies trading with Tehran of potential consequences, as Washington seeks to pressure Iran to make concessions amid the ongoing conflict.

Similar concentrations of Iranian-linked tankers have been reported off Malaysia, where waters have historically been used for ship-to-ship transfers of Iranian crude destined mainly for China.

Continue Reading

Trending