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Will Sri Lanka invest in a 700 MW floating solar system?

United Solar Group of Australia has secured Sri Lankan government approval for a $1.72 billion investment in a 700 MW floating solar and 1.5 GWh storage project. The company will install a 700 MW solar system across 437 hectares in the shallows of Poonakary Lake in the town of Kilinochchi.

Does Sri Lanka have solar energy?

Furthermore, Sri Lanka’ has also seen an increase in the energy generated through bioenergy sources (geothermal, biomass and waste energy) with this segment producing approximately 250 GWh of energy by 2020. However, despite its potential, solar energy has had an uninspiring growth until 2016.

How can Sri Lanka achieve net-zero?

Lack of research, institutional coordination, and funding hinders net-zero progression. Country's net-zero achievement requires policy to action transitions at a state level. Sri Lanka as a country has tremendous potential for harnessing energy from renewable sources such as solar, wind, and hydro.

What are Sri Lanka's energy policies & strategies?

Sri Lanka's energy policies and strategies strongly focus on developing conventional and nonconventional renewable energy sources for generating power. Promoting domestic energy resources has become one of the main policy components in Sri Lanka.

When did Sri Lanka start using solar energy?

When looking from a historical standpoint, the Stockholm Environmental Conference in 1972 provided the impetus for the Sri Lankan government to start looking at alternative energy, and solar energy was considered a strong option by the ministry-appointed committee in 1975.

Is Sri Lanka a viable alternative energy source?

Moreover, Sri Lanka has also identified the potential for wind, bioenergy, and solar as alternative energy sources in the past two decades. However, the current contribution from these three renewable sources in comparison to hydroelectricity remains significantly low.