President Gotabaya Rajapaksa stated in a speech to the International Energy Forum of the United Nations that Sri Lanka will stop creating new coal-fired power facilities and get net-zero carbon emissions by the year 2050. Sri Lanka has established a goal of obtaining 70% of its total energy needs from renewable sources by the year 2030. “Sri Lanka is pleased to co-chair the Energy Compact for No New Coal Power,” he added.
As per climate organization that advocates Sustainable Energy for All, governments such as Sri Lanka, Chile, France, Germany, Montenegro, Denmark, and the United Kingdom have established a No New Coal Power Compact to prohibit the establishment of coal-fired power stations. Wind and solar energy, as well as small and big hydro power plants, contribute to 50% of the island country’s installed electricity generation capacity, with oil-fired and coal power making up the rest.
About 35 percent of the country’s power consumption is presently met by renewable and hydroelectric energy. He stated, “Our goal is to shift away from the fossil fuels, encourage de-carbonization, and establish Sri Lanka as a carbon-neutral nation by 2050.” Leaders from low-lying and island countries urged affluent countries to act more strongly against global warming at United Nations General Assembly, citing what they regard as an existential threat.
Following similar actions by Japan and South Korea earlier this year, Sri Lanka has pledged to stop establishing new coal-fired power plants. Asia consumes the vast majority of the world’s coal. Sri Lanka’s move comes after China pledged at United Nations General Assembly (UNGA) earlier this week not to build any latest coal-fired power facilities abroad.
In Asian countries like Sri Lanka and Pakistan, as well as African ones like Kenya, China has made considerable investments in energy and infrastructure projects. According to Rajapaksa, Sri Lanka will prohibit the import of fossil fuel-powered automobiles, stimulate the adoption of electric vehicles, and invest in green energy. “I request that countries with the necessary capacities assist underdeveloped countries in their efforts to make the shift to more efficient energy generation,” he added.
Sri Lanka’s government wants the country to be energy self-sufficient by 2030. The goal is to raise the country’s power generation capacity from 4,043 MW to about 6,900 MW by 2025, with a major expansion of renewable energy. Sri Lanka has already reached 98 percent grid connectivity, which is impressive by South Asian standards. Sri Lanka generates electricity from three primary sources: thermal power (coal and fuel oil), hydropower, as well as other non-conventional renewable power sources (wind power and solar power).