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Major investment push in Sri Lanka’s solar economy

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Ashish Khanna

By Ifham Nizam

Sri Lanka’s renewable energy sector is poised for a significant investment surge as the International Solar Alliance (ISA) moves to operationalise a comprehensive Country Partnership Strategy (CPS), positioning the island as a key emerging hub for solar deployment and green financing in South Asia.

A high-level ISA delegation led by Director General Ashish Khanna is currently in Colombo (April 6–9), engaging with policymakers, multilateral lenders, and private sector stakeholders to fast-track a pipeline of solar projects exceeding 4 gigawatts (GW) under the Renewable Energy Project Development Plan (2025–2030).

From Policy to Projects: Unlocking Capital Flows

At the heart of the mission is a decisive shift from policy frameworks to bankable project execution. The CPS outlines a multi-year roadmap aimed at mobilising private capital, strengthening regulatory systems, and accelerating project approvals—long seen as a bottleneck in Sri Lanka’s energy sector.

Energy Minister Eng. Kumara Jayakody emphasised that the strategy provides “clarity across the solar value chain,” particularly in investment mobilisation and regulatory alignment. For investors, this signals reduced risk and improved predictability—two critical factors for scaling infrastructure financing.

Industry analysts note that Sri Lanka’s solar ambitions could unlock billions of dollars in investments over the next decade, especially as global funds pivot toward climate-aligned assets in emerging markets.

A key commercial opportunity emerging from the ISA mission is the focus on floating solar projects and battery energy storage systems (BESS). These segments are expected to attract both foreign direct investment (FDI) and technology partnerships.

Floating solar, in particular, offers Sri Lanka a competitive advantage due to its extensive reservoir network. Coupled with battery storage integration, it enhances grid stability—an essential requirement as renewable penetration increases.

The mission includes a dedicated Floating Solar Workshop aimed at accelerating project readiness, indicating near-term opportunities for engineering firms, developers, and financiers.

University-Industry Linkages to Drive Green Jobs

A landmark Memorandum of Understanding (MoU) to establish a Solar Technology Application Resource Centre (STAR-C) at the University of Moratuwa is expected to strengthen local technical capacity and innovation.

Beyond academia, the initiative is designed to support testing, certification, and workforce development—critical for creating a domestic solar ecosystem. This move aligns with broader efforts to localise value chains and reduce dependence on imported expertise.

Khanna highlighted that the STAR-C would play a pivotal role in job creation and skills development, reinforcing the economic multiplier effect of renewable energy investments.

Sri Lanka’s push toward solar is also driven by macroeconomic imperatives. With global fossil fuel prices remaining volatile, the country’s heavy reliance on imports has strained public finances.

Solar energy, which has already surpassed 1 GW in installed capacity, is expected to contribute nearly 75% of emissions reductions under Sri Lanka’s Nationally Determined Contributions (NDC 3.0) for 2026–2035.

More importantly, it offers a pathway to reduce foreign exchange outflows and enhance energy security—key priorities as the country navigates post-crisis economic recovery.



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Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment

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The exchange of the MoU between the two organisations

By Sanath Nanayakkare

In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.

The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.

A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.

Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.

With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.

To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.

Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.

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Hettich celebrates a decade in Sri Lanka with partner meet in Colombo

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Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality

Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.

The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.

Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.

The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.

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GS Evo Motors launches all-new JMEV EWIND

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Priyantha Perera, Chief Executive Officer of GS Evo Motors (left), and Sunil Wettasinghe, Chairman of GS Evo Motors, introducing the latest JMEV Ewind Electric SUV to the local market

GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.

The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.

The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.

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