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10 February, 2016 09:12 AM Source: Financial Times - Sri Lanka
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Come 2050, Sri Lanka’s export basket will include energy if plans announced by the Government this week materialise.

The set target is likely to take place as the Government is making Sri Lanka 100% self-sufficient in energy with bulk generated via renewable energy.

“By 2050 Sri Lanka will be in a position to cater to local demand with renewable energy and the excess supply, mainly from non-renewable source, will be exported,” Power and Energy Ministry Secretary Dr. B.M.S.Batagoda said on the sidelines of second South Asia Energy Regulators Conference, which kicked off on Monday.

He said that the target was to locally produce renewable energy such as biomass, wind, geothermal, and hydro to reach 100% capacity by 2050.

“We have set 2030 as the target date of conceptualising for self-sufficiency in renewable energy and until such time we will continue to have refineries and coal power plants because we have to survive,” he said.

However, he also said that Sri Lanka will continue to produce coal and the excess can be exported.

The Ministry Secretary confirmed that by 2035 Sri Lanka will have 1,000 MW of additional renewable energy for consumption.

Dr. Batagoda highlighted that the proposed Indo-Sri Lanka Bridge and marine cable would create greater potential for the country to tap into the Indian energy market.

“India needs a lot of energy. Out of 1.5 billion population, only 140 million households have electricity. There is a huge demand and we are sure that India cannot meet its expected demand. Sri Lanka has a big potential and the excess production of coal can be sold to India,” he stressed.

According to the Secretary, the marine cable final feasibility study is now being revised and the Ministry is fast-tracking the proceedings to complete it within this month.

“Sri Lanka and India are aggressively promoting this $500 million initiative. From this month onwards we are trying to push the feasibility study to be completed soon.”

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