President Wickremesinghe Advocates Renewable Energy as Key Economic Driver for Sri Lanka
President Ranil Wickremesinghe underscored the potential of the renewable energy sector to become the primary economic growth driver in Sri Lanka over the next decade, drawing a parallel with the government’s development of the garment industry in 1977.
Speaking at the inauguration of Sri Lanka’s first natural gas power plant, the Kerawalapitiya “Sobadhanavi” Combined Cycle Power Plant, the President emphasized the government’s strategic plan to transform Sri Lanka into a surplus producer of renewable energy, highlighting the continuous market demand for excess energy. He also expressed openness to participating in the proposed India-Singapore power line connection if it materializes.
The Sobadhanavi Power Plant, developed by Lakdhanavi Ltd., marks a significant step towards enhancing the country’s electricity supply and supporting long-term economic growth.
The first phase, launched today, features a 220 MW F-class gas turbine, with the second phase scheduled for completion by early 2025, adding a 130 MW steam turbine that utilizes by-product heat from the gas turbine, ultimately boosting the plant’s capacity to 350 MW.
This project is expected to meet approximately 12% of Sri Lanka’s current electricity demand, playing a crucial role in stabilizing the energy supply, fostering industrial growth, and contributing to economic stability.
At the inauguration, President Wickremesinghe highlighted the importance of renewable energy in achieving the climate change goals by 2050, and the potential for Sri Lanka to expand its influence in the Asian and African renewable energy markets.
Lakdhanavi Ltd Ranil Wickremesinghe Sobadhanavi Power Plant
Last modified: August 29, 2024
