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Invest in or provide project financing for large-scale ground-mounted and floating Solar PV power generation to supply the generated capacity to the national grid for residential and industrial/commercial consumption.
Over 50 solar ground mounted on-grid plants and 40 private sector companies contributing to about 100 MW capacity (17). In case of Solar PV rooftop industry, about 450 project developers/service providers registered at SLSEA (18). Examples of companies active in the IOA space:
WindForce ventured into solar in 2016 with its domestic and overseas solar power projects in Ukraine, Uganda and Pakistan. In 2021 it had 10 (6- SL and 4 - overseas) ground mounted solar and 2 rooftop solar projects with a total capacity of 136.23 MW. All projects have been successful in generating electricity for national use (10).
Regen Renewables (Pvt.) Ltd was established in 2013. The company is the recipient of a Presidential Award in 2017 from the Ministry of Power & Energy and Sri Lanka Sustainable Energy Authority for the contribution to the "Battle for Solar Energy", National Programme for the promotion of rooftop solar PV (11).
Nikini Solar, in 2008, was the first company in Sri Lanka to enter into a net metering agreement for its Solar PV System at their head office with the Ceylon Electricity Board. It is a division of Nikini Automation Systems (Pvt.) Ltd., and is an all-in-one solar energy provider. The company provides grid connected solar PV systems for domestic, industrial and commercial establishments. (12)
Solar-based electricity generation to serve household, commercial, industrial, e-mobility needs and increase the proportion of RE in the total energy mix
- 1) Renewable Energy Development Plan Phase-I 2019-2025; http://powermin.gov.lk/english/wp-content/uploads/2019/08/Renewable-Energy-Development-Plan-English.pdf 2) Renewable Energy Resource Development Plan 2021-2026 (Draft) www.energy.gov.lk/images/renewable-energy/renewable-energy-resource-development-plan-en.pdf 3) CEB Long Term Generation Expansion Plan 2022-2041 (Draft) -https://ceb.lk/front_img/img_reports/1636539187LTGEP_2022-2041_Web_compressed.pdf 4) Central Bank Economic and Social Statistics 2021- https://www.cbsl.gov.lk/en/publications/other-publications/statistical-publications/economic-and-social-statistics-of-sri-lanka/ess-2021 5) SLSEA (February 2022), Proposed renewable energy capacity for 70% renewable energy taget by 2030, Internal Report (Unpublished), Personal Communication. 6)GoSL (September 2021), Updated Nationally Determined Contributions (NDCs), https://unfccc.int/sites/default/files/NDC/2022-06/Amendmend%20to%20the%20Updated%20Nationally%20Determined%20Contributions%20of%20Sri%20Lanka.pdf 7) Sri Lanka Electricity Act, No. 20 of 2009 and amendment in 2013 and 2022 - https://www.pucsl.gov.lk/wp-content/uploads/2017/12/electricity_act_2009.pdf;http://powermin.gov.lk/english/wp-content/uploads/2017/11/2013-Act-No.-31-Amendment-to-Act-No.-20-Sri-Lanka-Electricity-Act-E.pdf 8) Long Term Generation Expansion Plan 2018-2037- https://ceb.lk/front_img/img_reports/1532407706CEB_LONG_TERM_GENERATION_EXPANSION_PLAN_2018-2037.pdf 9) Windforce Ltd Prospectus - https://cdn.cse.lk/pdf/upcoming_listing/WINDFORCE-Prospectus-Part-1.pdf 10) About Windforce - https://windforce.lk/ 11) About Regen Renewables - https://www.regen.lk/ 12) About Nikini Solar - http://www.nikini.lk/solution_category/solar_photovoltaic_solutions/ 13) Tax update: May 2021 - https://assets.kpmg/content/dam/kpmg/lk/pdf/kpmg-tax-news/may-2021/mya-2021-kpmg-srilanka-tax-news2-flash.pdf 14) Sri Lanka CO2 Country Profile - https://ourworldindata.org/co2/country/sri-lanka 15) Ministry of Finance Annual Report (2020): https://www.treasury.gov.lk/api/file/0b7d1935-6235-4156-97b6-752d6a8039d0 16) World Bank, Access to electricity (% of population) - Sri Lanka, https://data.worldbank.org/indicator/EG.ELC.ACCS.ZS?=desc&locations=LK, Accessed on 14th July 2022.
- 17) PUCSL, List of Licensees and Exemptions, https://www.pucsl.gov.lk/electricity/licensee/list-of-licensees/, Accessed on 10th July 2022 18) SLSEA, Solar PV Service Providers, https://www.energy.gov.lk/images/soorya-bala/registered-solar-pv-service-providers.pdf, Accessed on 29th June 2022 19) IRENA (July 2022), Renewable Power Generation Costs in 2021, The International Renewable Energy Agency, https://irena.org/-/media/Files/IRENA/Agency/Publication/2022/Jul/IRENA_Power_Generation_Costs_2021_.pdf 20) PUCSL (October 2011), The Methodology for Feed-In-Tariffs - NCRE, https://www.pucsl.gov.lk/wp-content/uploads/2019/01/ncre_tariffs-methodology.pdf 21) CEB (March 2020), Request for Proposals - Establishment of Wind Power Plant on Build Own and Operate Basis, https://www.pucsl.gov.lk/wp-content/uploads/2020/01/RFP.pdf 22) CEB (March 2020), Request for Proposals - Establishment of Solar PV Power Plant on Build Own and Operate Basis, https://ceb.lk/front_img/tender_pdf/200306060312150MW_AC_Solar_RFP_All_GSS.pdf 23) Sri Lanka Sustainable Energy Authority (SLSEA) Act No. 35 of 2007, https://www.energy.gov.lk/images/about-us/inception/2007-act-no-35-sri-lanka-sustainable-energy-authority-e.pdf 24) SLSEA (July 2011), On Grid Renewable Energy Development - Policies and Procedures to Secure Approvals to Develop a Renewable Energy Project to Supply Electricity to the National Grid, https://www.energy.gov.lk/images/renewable-energy/renewable-energy-development-guidebook.pdf 25) The Electricity (Applications for Licences and Exemptions) Regulation, 2009, Extraordinary Gazette No. 1617/34, September 03, 2009. https://www.pucsl.gov.lk/wp-content/uploads/2017/09/Regulations-for-Electricity-Applications-for-Licences-Extensions-of-Licences-and-Exemptions.pdf 26) PUCSL, Application for a Licence to Generate Electricity up to a Generation Capacity of 25 MW, 27) PUCSL, Application for a Licence to Generate Electricity Over and Above a Generation Capacity of 25 MW, https://www.pucsl.gov.lk/wp-content/uploads/2022/07/Application-form-for-a-licence-to-generate-electricity-over-and-above-a-generation-capacity-of-25-MW.pdf 28) PUCSL, Guideline for Applicants - Application for a Licence to Generate Electricity up to a Generation Capacity of 25 MW, https://www.pucsl.gov.lk/wp-content/uploads/2021/10/Guideline-to-fill-Application.docx 29) PUCSL (February 2017), Issuance of Certificate of Exemption, The Gazette of the Democratic Socialist Republic of Sri Lanka, Extraordinary, No. 2006/19, https://www.pucsl.gov.lk/wp-content/uploads/2017/09/Issuance-of-Certificate-of-Exemption-for-Domestic-Solar-Power-Generation.pdf 30) SLSEA, Application for Registered Photovoltaic (PV) Service Provider, https://www.energy.gov.lk/images/soorya-bala/application-for-registered-pv-service-provider.pdf 31) CBSL (April 2019), Roadmap for Sustainable Finance in Sri Lanka, https://www.cbsl.gov.lk/sites/default/files/Sri%20Lanka%20Sustainable%20Finance%20Roadmap%20FINAL%2008.04.19.pdf 32) CBSL (May 2022), Sri Lanka Green Finance Taxonomy, https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/sl_green_finance_taxonomy.pdf 33) National Energy Policy & Strategies of Sri Lanka http://powermin.gov.lk/english/wp-content/uploads/2019/11/2135-61_E.pdf 34) CEB Long Term Generation Expansion Plan 2015-2034 -https://ceb.lk/front_img/img_reports/1532408363CEB_LONG_TERM_GENERATION_EXPANSION_PLAN_2015-2034.pdf 35) PUCSL Consultation Document on the Proposed Electricity Tariff 2022 - https://www.pucsl.gov.lk/other-supporting-documents-stakeholder-consultation-on-the-proposed-electricity-tariff-2022/