BOI alternative energy project to reduce dependence on fossil fuel
One of the biggest challenges that Sri Lanka faces today is finding
and using alternative energy sources. The search for alternate power
generation for homes and industries is a continuous endeavour.
Wind, hydro and solar power are considered as renewable energy
sources with claims that once the technology is perfected, making it
more cost-effective, they can reduce dependence on oil and natural gas
to turn turbines in the generation process. The switch to alternative
energy sources is a matter of selecting the correct alternative energy
source available in a specific location.
A larger percentage of the energy used in Sri Lanka comes from fossil
fuels. Fossil fuel - such as coal, oil and natural gas, is
The alternate renewable energy sources are natural sources that can
be replenished naturally over a short period of time. Also another major
attraction for using renewable energy sources is that many of them do
not pollute the environment.
Non-renewable fossil fuels and natural gas provide a higher
percentage of the energy production. Although alternative sources make
up a small fraction of total energy production today, their share is
The Board of Investment (BOI) having identified the importance of
alternate power generation with the objectives of import substitution,
increasing power generation, reducing the dependency on non-renewable
sources and protecting the environment, is in a process of attracting
investments for projects to generate alternate power.
Wind power is the conversion of wind energy into a useful form of
energy, such as using wind turbines to generate electricity.
With the view of supporting the alternate power generation sector,
BOI granted investment approval to Powergen Lanka Limited to set up a 10
MW wind power plant. Chairman/Director General Jayamapathi Bandaranayake
signed the agreement on behalf of the BOI and formally presented the BOI
Certificate of Registration to the investors.
Powergen Lanka Limited will establish the plant in Uppudaluwa,
The project representing an investment of US$18.55 million is an
The venture is expected to commence operations by June 2011.
The project will utilise seven 1.7 MW wind turbines for the power
generation process. Director Powergen Lanka Narasimhan Ramkhumar stated
that around 75 percent of the power generation from the wind turbines
during the year would be in April to October.
Directors of the company Rohan Iriyagolla and Narasimhan Ramkhumar
signed the agreement on behalf of the company.