Published on: July 4, 2024

Debt Restructuring Success Revitalizes Energy Sector – State Minister for Power and Energy Indika Anuruddha

State Minister for Power and Energy Indika Anuruddha, stated that due to the success of the debt restructuring activities, the projects related to the energy sector, which were stalled during the last crisis, will be re-implemented and it will be of great help in solving the power crisis.

The Minister of State also pointed out that some parties in the opposition are engaged in sabotage to weaken the program launched by the government to develop the country.

State Minister Indika Anuruddha conveyed these updates during a media briefing at the Presidential Media Centre (PMC) held today (04) under the theme “Collective Path to a Stable Country”.

The state minister further elaborated;

“Many energy sector projects were stalled during the recent crisis. However, agreements for debt restructuring have been signed with bilateral creditor countries. This has resolved the legal issues necessary to restart these foreign-funded projects. As a result, the successful debt restructuring will significantly help address the country’s energy crisis.

Additionally, the Ceylon Electricity Board (CEB), the Public Utilities Commission of Sri Lanka (PUCSL), and the Ministry of Power and Energy have calculated the costs of producing electricity using rooftop solar panels. Consequently, prices have been reduced, and a related cabinet paper was presented last week. This has enabled us to apply for electricity purchase agreements at a lower price, allowing the CEB to achieve a loss-free situation.

Furthermore, feasibility studies and environmental reports for the Adani project are still in progress. Once these are completed, it will be discussed whether the project can proceed under the current pricing conditions.

It has been observed that some opposition parties are engaging in sabotage activities to undermine the government’s development program. They have also issued false statements regarding the construction of power plants such as Uma Oya and Sampur.


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