Sri Lanka Rooftop Solar

Sri Lanka faces a significant challenge in its energy landscape, with thermal power being the dominating source of energy and solar energy representing only ~5 per cent of the mix as of March 2024. This reliance on imported coal and oil jeopardises energy security, strains foreign reserves and contributes to greenhouse gas emissions. Recent events, such as delays in fuel imports and tariff hikes have previously led to blackouts, highlighting the urgency for energy diversification. The government aims to boost power generation capacity to 6,900MW by 2025, with renewables aiming to make up 70 per cent of the grid by 2030. However, financing hurdles, compounded by economic restructuring, pose obstacles to meeting these ambitious targets, threatening the timely implementation of crucial infrastructure projects like solar expansion.

Greenpower SL is a renewable energy platform with an operational portfolio of 80MWp of rooftop solar capacity deployed across public rooftops in Sri Lanka. PIDG’s investment, through its project development solution, InfraCo, is expected to enable Greenpower SL to double its rooftop solar portfolio and support the exploration of new technologies such as energy storage. A USD 80k technical assistance grant will finance a feasibility study exploring nature-based solutions that could enhance the solar installations. Overall, the successful implementation of the project will contribute towards Sri Lanka’s renewable energy targets, and prove the financial viability of investing in the country’s renewable energy sector.