History of Ceylon Tea

ECONOMYNEXT – Sri Lanka’s first ever semi transparent solar PV powered agrivoltaic pilot project was commissioned in Hanthana, Kandy on Thursday, the Minister of Power and Energy said.

The project is funded by the Asian Development Bank.

“The pilot project will assist The Ministry of Plantation Industries, Ministry of Power and Energy, CEB, Tea Small Holders Development Authority and Sustainable Energy Authority to study the development of renewable energy in tea plantations in the country,” Kanchana Wijesekera said on X (twitter).

A photovoltaic (PV) cell is a non-mechanical device that converts sunlight directly into electricity. Sri Lanka’s current energy sector development strategy seeks to increase energy generated from renewables such as wind and solar.

Critics have pointed out that Sri Lanka is paying higher rates to renewable power developers than neighboring India. Wijesekera has said this was due to several reasons including a risk premium after a sovereign default.

“When investors are looking at the country they also account for the risk in the country,” Minister Wijesekera said previously. “We call it the risk premium. There can be a risk insurance. Even Asian Development Bank and the IMF also evaluates before giving. (Colombo/Mar1/2024)