In a move to accelerate the implementation of renewable energy projects and meet ambitious national climate targets, the Sri Lankan government has announced a new streamlined approval process. The Cabinet of Ministers, at a meeting on November 20th, 2023, approved the proposal presented by the Minister of Power and Energy to establish a combined standing committee for efficient decision-making and project monitoring.
Recognizing the time-consuming nature of existing approval methods and the challenges faced by interested investors, the government aims to expedite the implementation of renewable energy projects and achieve the Nationally Determined Contribution targets set for 2030.
The committee will be chaired by the Presidential Secretariat and comprise representatives from key ministries and institutions, including:
- Prime Minister's Office
- Ministry of Finance, Economic Stabilization, and National Policies
- Ministry of Investment Promotions
- Ministry of Wildlife and Forest Resources Conservation
- Ministry of Environment
- Ministry of Tourism and Lands
- Ministry of Industries
- Ministry of Power and Energy
- Ministry of Irrigation
- Ministry of Water Supply and Estate Infrastructure Development
- Sri Lanka Sustainable Energy Authority
- Ceylon Electricity Board
The new streamlined process is expected to significantly reduce project approval times and create a more favorable environment for renewable energy investment.