GENERATING SUSTAINABLE BUSINESSES IN SRI LANKA

 

Sri Lanka is set to host its first International Power Generation & Electrical Engineering Exhibition & Conference – LankaEnergy’16 from 12-14 August 2016 at the Sri Lanka Exhibition & Convention Centre, Colombo. After a period of instability Sri Lanka has rebounded and has emerged as one of the fastest growing economy in the region in recent years. With its economy growing at 7% over the past few years, the country is poised to see sustained growth. Backed by a stable and committed Government which has introduced a number of forward thinking policies, Sri Lanka is the next key investment and business destination.

As such, the Government has prioritised power generation and electrification projects to support national development and improve quality of life. This is apparent as electricity supply to household covers only about 25% of the population.

With the increasing demand for energy to provide for the country’s economic and social development, total primary energy demand is expected to increase to about 15,000 kTOE by the year 2020. Electricity and petroleum sub-sectors are likely to record higher annual growth rates of about 7-8%. Commercial energy utilities are required to be further strengthened to improve their financial viability and service quality. The involvement of the country’s population in the investment, operation, regulation and delivery of energy services needs to be increased.

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