Business leaders call for faster transition to renewable energy
Sri Lanka’s private sector is urging the Government to accelerate investment in renewable energy, warning that continued dependence on imported fossil fuels leaves the country exposed to global crises beyond its control.
The call follows recent discussions between government officials, industry leaders, academics and energy experts on the country’s long-term energy strategy. Participants argued that the recent tensions in the Middle East once again demonstrated how quickly international events can affect electricity costs, transport and inflation in Sri Lanka.
Business representatives say expanding solar, wind and distributed renewable generation would improve energy security while reducing pressure on foreign exchange reserves.
They also argue that greater investment in clean energy would make Sri Lankan exports more attractive to overseas buyers, many of whom increasingly assess suppliers against environmental and sustainability benchmarks.
The discussion extends beyond climate policy.
Reliable, affordable electricity is becoming a key determinant of industrial competitiveness.
Manufacturers, technology firms and investors increasingly regard energy security as a deciding factor when choosing where to expand operations.
Sri Lanka has already announced ambitious renewableenergy targets for the decade ahead.
The challenge now lies in translating policy into projects that can be delivered at scale and at speed.
For a country that has repeatedly seen external shocks disrupt its economy, reducing dependence on imported fuel is no longer simply an environmental objective.
It is increasingly becoming an economic necessity.
