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| Tuesday, 24 June 2003 |
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Strategy to map out sustainable energy plan for Lanka MANILA, PHILIPPINES, Monday - The Asian Development Bank (ADB) has approved a technical assistance (TA) grant for US$500,000 to prepare an energy sector strategy for Sri Lanka, with a 15 to 20 year horizon. The TA will identify barriers to developing the sector and recommend measures to help achieve sustainable environmental improvement. The strategy will be based on an assessment of the country's need for energy resources, current policies and regulations and existing plans. The energy sources covered include power, petroleum, oil and gas exploration, liquefied petroleum gas and renewable energy. "The Government has successfully begun reforms and restructuring of each of its energy subsectors, but on an individual basis," said Rune Stroem, an ADB Principal Energy Specialist. "What is needed now is a macro plan for the energy sector for the medium to long term." Besides providing a broad framework to improve the energy supply system's reliability and efficiency, the TA will recommend ways of extending energy coverage to the poor and disadvantaged, particularly in remote areas not covered by the power grid. Particular attention will be paid to financial sustainability and the ability of the poor to pay for installation and monthly power costs. The strategy will outline investment priorities and devise a renewable energy program suitable for external funding. Also, it will outline measures for improving governance, promoting private sector participation in the sector and the introduction of market-based incentive structures. Given that Sri Lanka imports all thermal-based energy resources, opportunities will be reviewed on regional energy cooperation. "Exploring the possibilities of regional cooperation on energy could identify financially beneficial solutions to meeting energy demand in Sri Lanka," Stroem said. The TA is estimated to cost $650,000, of which the Government will finance about $150,000 equivalent. Work on the strategy is expected to start in August and will take about nine months. |
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