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Energy projects resume amidst “successful” debt restructuring

July 05, Colombo (LNW): State Minister for Power and Energy, Indika Anuruddha, announced that the successful restructuring of national debt has paved the way for the resumption of previously halted energy sector projects, aiding in the resolution of the power crisis.

Addressing a media briefing at the Presidential Media Centre (PMC) under the theme “Collective Path to a Stable Country”, Minister Anuruddha highlighted attempts by opposition factions to undermine government initiatives aimed at national development.

The Minister detailed the following points:

“Several energy sector projects were suspended during the recent economic crisis. However, the signing of debt restructuring agreements with bilateral creditor nations has resolved legal impediments, enabling the restart of these foreign-funded initiatives. This achievement in debt restructuring is crucial in addressing the energy crisis.

Moreover, the Ceylon Electricity Board (CEB), the Public Utilities Commission of Sri Lanka (PUCSL), and the Ministry of Power and Energy have assessed the costs of generating electricity using rooftop solar panels. As a result, prices have been reduced, and a related cabinet proposal was submitted last week. This measure allows for the application of electricity purchase agreements at a lower cost, positioning the CEB to operate without incurring losses.

Additionally, feasibility studies and environmental reports for the Adani project are ongoing. Upon their completion, discussions will determine the project’s viability under current pricing conditions.

It has come to our attention that certain opposition parties are engaging in acts of sabotage to weaken the government’s development agenda, including spreading misinformation about the construction of power plants like Uma Oya and Sampur.”

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