ADB Country Director to Sri Lanka, Takafumi Kadono reiterated ADB’s steadfast commitment to support Sri Lanka to achieve its renewable energy and energy security goals.
The Country Director was speaking at the ADB’s Serendipity Knowledge Program ((SKOP) ) -, Driving Power Sector Reforms for Enhanced Renewable Energy Growth and Sector Performance, in Colombo on January 30. ADB supports the Government’s Nationally Determined Contribution (NDC), which targets 70% renewable energy by 2030, he said.
“Standing still due to uncertainties will not resolve anything. The fact of the matter is that electricity tariffs are quite expensive, but there are ways to bring them down. Since all consumers are captive, it is in the hands of the CEB and the industry to lower these tariffs. Therefore, unbundling, bringing competition, and ensuring transparency are crucial steps,” he said adding, “It’s important that we learn from other countries.”
The industry faces immense pressure to keep the lights on, which is a primary concern. At the same time, there’s the challenge of achieving multiple objectives — making electricity affordable, and attracting foreign direct investment.
This is crucial to boost the competitiveness of local industries in the global market, as aptly emphasised by President Dissanayake as well,” said the Country Director. The Country Director said that ADB’s support goes beyond mere hardware. He stressed the importance of engaging in policy discussions, focusing on the softer, strategic aspects of the sector as well.
SKOP is ADB’s knowledge program dedicated to Sri Lanka, to respond effectively to the country’s needs in line with the vision of the ADB as a knowledge solutions bank. SKOP will share knowledge on issues relevant to Sri Lanka and facilitate discussion among stakeholders. Director Energy, Energy Sector Group, ADB, Dr. Sujata Gupta, Chairman, Ceylon Electricity Board, Dr. Tilak Siyambalapitiya, Former President, Sri Lanka Institute of Engineers, Shavindranath Fernando, Director General, Power Sector Reform Secretariat, Pubudu Niroshan, Director General, Public Utilities Commission, Damitha Kumarasinghe, and experts in the field were present.