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Further boost to renewal energy drive

*Wise to switch to renewable energy

*Giant project of CEB

Sri Lanka Energies (Pvt) Ltd was launched yesterday to increase renewable energy upto 20 percent of the national grid by 2020, Power and Energy Minister Patali Champika Ranawaka said.

The minister made this observation at a ceremony at the BMICH to mark the establishment of Sri Lanka Energies (Pvt) Ltd, which is a subsidiary of CEB, to expand the use of renewable energy.

Minister Ranawaka

Minister Ranawaka said that the government initiated this company to propel the use of renewable energy to face a future energy crisis, as it seems the private sector alone is unable to reach government targets under the Mahinda Chintanaya Future Vision by 2020.

The minister said that the price of renewable energy will be the cheapest by 2017 though today the cheapest is coal power. He added that though a considerable capital had to be invested, the benefits will be commendable. Ranawaka said that it was a wise decision to switch on to renewable energy soon due to the current large scale use of fossil fuel, shortage of fossil fuel, high price and connected environmental issues.

The minister added that global consumption of fossil fuel was five percent in 1890 and it rapidly increased to 94 percent by 1960.

“It was predicted that fossil fuel would last only until 2050 if it was used at such an alarming rate,” the minister said.

Ranawaka also added that most countries have a tendency to impose a carbon tax and it is better if the government could pay attention to use renewable energy in the production process.

Minister Ranawaka said that this was not an attempt to prevent the private sector from engaging in this trade or to compete with them, but to expand the use of renewable energy parallel to the government’s need.

He added that this was the first step in a giant project of the CEB to enable the people to enjoy solar power, wind power, sea wave energy and geo-thermal energy at low cost while preserving the environment for the future generation.

CEB chairman Professor Wimaladarma Abeywickrama, Sri Lanka Energies (Pvt) Ltd CEO S C Diddeniya and CEB senior assistant secretary (technical) A S Herath were also present.

 

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