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The Sri Lanka Renewable Energy Authority was inaugurated, further strengthening the future of renewable energy, by the minister of Power and Energy Patali Champika Ranawaka at the auspicious
time of 09.24 am on 04 January at 2/126, Bandaranaike memorial International Conference hall.
There is a long term plan to contribute 20% of the total electricity requirement with Renewable energy sources by 2020. The current capacity of renewable energy is 250 MW which is expected to increase to
1335 by 2020.
In 1850 fossil fuel accounted for 5% of energy requirements, but by 1960 it had increased to 94%. America was the first country that used nuclear power for civil purposes. Rick Ower an American
Engineer of the United States who constructed the first nuclear submarine pointed out in 1958, that in addition to the fossil fuels used today such as petroleum, coal and gas, by 2050 Shale will also be used.
This substance has been accepted by modern scientists while the only alternative to it is renewable energy sources such as solar, wind, geo thermal and ocean wave.
The minister further pointed out that while international embargos can be enforced on fossil fuels, no such restrictions can be imposed on renewable energy sources. Coal which is the cheapest energy
source today could become the most expensive energy source in another 10 years. He further pointed out that by 2017 to 2020 the cheapest source of energy will be solar and wind power.
Concurrent to this event an agreement was signed between the Sri Lanka Energy corporation and the Sri Lanka renewable energy authority for the development of small scale hydro power projects with a maximum capacity of 250 MW.
The CEO of the renewable energy authority S.C Diddeniya said that in the future Lanka Electric (pvt) Ltd., Lanka Transformers and other private energy companies will work in unison to develop the country’s renewable energy sector.
Among the distinguished gathering present on this occasion were the Chairman of the CEB Wimaladharma Abeywickrema, Additional Secretary (Technical) T.M Herath and other senior officials of the relevant companies.