The Federation of Renewable Energy Developers (FRED) reiterated its call again for an unbiased and independent committee to be set up to make recommendations on behalf of the renewable energy sector, which the Federation believes, will face a natural death if its concerns are ignored further.
The Federation at a media briefing at the Ceylon Chamber of Commence on Friday called upon President Anura Kumara Dissanayake to intervene in this matter to form a proper committee that would pay heed to their grievances and save the renewable energy sector which makes a vital contribution to the energy generation of the country from an early death.
“We stand at a critical juncture for Sri Lanka’s energy future,” FRED President Thusitha Peiris said, adding that the recent action of the authorities risks dismantling years of progress in renewable energy development and plunging the sector into an uncertain future with severe economic and social repercussions.
The recent Cabinet paper introducing revised feed-in tariffs for renewable energy projects has sent shock waves through the industry. The FRED notes with grave concern that some tariffs have been reduced by over 30 percent.
“This unilateral decision has created widespread suspicion, instills fear of jobs losses across the value chain, the severely drained investor confidence and casts a deep shadow over the future viability of renewable energy sector in the country,” Peiris said.
The FRED officials echoed the same sentiments as other energy sector professionals that the 70 percent renewable energy target by 2030 would be an uphill task if the renewable energy sector is sidelined by the authorities. It said that while some in the CEB support the sector, many wish to see it perishing. Sri Lanka, where the sun shines well and water is in abundance for hydro power generation, has failed to harness solar energy for power,” said National Chamber of Commerce Renewable Energy Council Member Eng. Parakrama Jayasinghe.
The roof-top solar sector could save around US $ 500 million annually and reduce the reliance on costly and toxic fossil fuel imports. The renewable energy sector contributes about 52 percent of the country’s energy mix with a 13 percent production cost which is below the cost and contribution of energy from fossil fuels.
