Utility scale wind, solar and battery projects draw CEB’s ire as they march to take away their vested interests.
The government has ignited a green energy investment spree that’s expected to reach as high as $ 3 billion over the next 3 years. The road to bringing this money in the economy, though, is increasingly hitting speed bumps from the likes of the so called ‘mafia’ CEB officials.
Country’s ambitious vision aims to make the nation’s electric grid greener with 70% of the electricity demand to be met through renewable energy by 2030.
Companies have already announced plans for committing $25 billion investment up to 2030 in the renewable energy sector in the Country, according to the Board of Investment.
With potential Private investments over the next 3-4 years through FDI could include $3 billion in utility scale wind, solar and battery storage projects – Sun Power leading with $1.5 billion, followed by Adani Green with $900 million, by Orbital energy with $200 million, by WindForce PLC with $150 million and balance by a consortium of private developers. However, the opposition to projects has mounted for myriad reasons.
Increasingly, the few so called ‘mafia’ CEB officials, who have strangled the Country’s power sector by delaying the approval process, seems to be more concerned that the rapidly expanding utility scale size of wind, solar and battery projects will irreparably alter their powers and thus their vested interests in earning a share out of the pie.
Despite this backlash, many projects will eventually get built, say developers and analysts, but they could take longer and cost more than expected.
At the government level, there is ample support for speeding up the implementation of the projects, but its only CEB who is pushing back on their own self-motivated agenda, not know at large.
– Harendra Kuruppu
