Sri Lanka will have “excess” renewable energy and is in talks with neighboring countries, particularly India, to export supply, President Ranil Wickremesinghe told Bloomberg Television on Friday (01 Dec.), on the sidelines of COP28.
“We will have 100 gigawatts of solar or wind power available, which is far more than our needs, so it’s a question of investing,” he said. “At some stage exporting — either in the form of green hydrogen, or into India” is on the table, he added, noting that Bangladesh, Bhutan and Nepal “are connected to India.”
Sri Lanka is also planning bring forward its net zero target from 2050 to 2040, President Wickremesinghe said.
Green investments could help the economic recovery in the South Asian island nation, which is gradually emerging from a debt crisis, he said. Earlier this week, Sri Lanka struck an initial deal with a group of key official creditors, including India and the Paris Club, to restructure about USD 5.9 billion of debt.