In a significant move towards a sustainable future, Sri Lanka is all set to sign a deal with India to shift towards renewable energy sources for power generation. The deal, which is expected to be signed soon, will be a major step towards reducing the country’s dependence on fossil fuels and achieving its renewable energy targets.
Sri Lanka, which currently relies heavily on coal and oil for power generation, has been exploring options to transition to renewable energy sources for a while now. The country has set a target of generating 70% of its electricity from renewable sources by 2030, and the deal with India is expected to play a crucial role in achieving this target.
Under the deal, India will provide technical assistance and support to Sri Lanka in setting up renewable energy projects across the country. The focus will be on developing solar, wind, and hydropower projects, which will not only reduce the country’s carbon footprint but also create employment opportunities and boost economic growth.
The move towards renewable energy is not only critical for Sri Lanka’s sustainable development but also for the region as a whole. India has been a leader in promoting renewable energy and has set ambitious targets for itself. Its support to Sri Lanka is expected to create a ripple effect in the region and encourage other countries to shift towards renewable energy sources.
The deal between Sri Lanka and India is expected to be a game-changer in the region’s renewable energy landscape. It will not only reduce the country’s dependence on fossil fuels but also create a sustainable future for generations to come.