By: Staff Writer

Colombo (LNW): Taking yet another step towards a Greener Nation, Sri Lanka is embarking on mega floating solar power projects on water reservoirs, lakes, and where conditions are right.

The government seeks project proposals for the design and building of an innovative 150-200 MW solar power plant in the Samanalawewa reservoir following the approval given to a pilot project to install Floating Solar Panel Power Plants with Korean assistance.

Republic of Korea has agreed to provide a grant amounting 6.83 Billion Korean Won for the implementation of a pilot project to install floating solar panel power plant with 1 MW capacity on the surface of Kiriibban Wewa reservoir and Chandrika Wewa reservoir in the Ratnapura District six months ago.

In the latest move of promoting this concept , cabinet of ministers has given approval to call proposals for 150-200 MW floating solar power plant in Samanalawewa reservoir on Monday 23 this week.

Upon careful evaluation, it has been determined that there is considerable untapped potential to implement solar power generation projects on the surface of reservoirs managed by the Ceylon Electricity Board (CEB) and the Sri Lanka Mahaweli Authority.

It has been identified that the Samanalawewa reservoir, under the purview of the CEB, offers an optimal location for the construction of a floating solar photovoltaic power plant.

A statement comprising weekly Cabinet Decisions issued by the Government Information Department noted that the proposed plant is slated to have an impressive capacity of approximately 150 to 200 megawatts, marking a substantial leap towards cleaner and more sustainable energy sources.

The move is in association with the national procurement guidelines governing infrastructure facility projects.

Recognizing the pressing need for sustainable energy solutions, it has been acknowledged that generating solar electricity on the surface of reservoirs, through the construction of floating solar power plants, represents a fitting solution for countries with limited land availability.

The initiative aligns with Sri Lanka’s broader efforts to transition towards renewable energy, reducing dependency on traditional fossil fuels.

Meanwhile Sri Lanka will to go ahead with a pilot project to install Floating Solar Panel Power Plants on the surface of Kiriibban Wewa reservoir and Chandrika Wewa reservoir in the Ratnapura District.

Korea Institute for Advancement of Technology is acting as the monitoring agency for the pilot project on behalf of the Korean government, said the Department of Government Information.

By: Staff Writer

Colombo (LNW): The Ministry of Tourism has unveiled an incentive package in its recent efforts to boost international tourism to Sri Lanka with the approval from the Cabinet of Ministers this week.

Minister of Tourism and Lands Harin Fernando presented these proposals to enhance the country’s appeal to tourists and improve its competitive edge in the region.

The first approved proposal involves launching a pilot project to grant free tourist visas to visitors from seven countries.

Tourist visas will be provided at no cost to travellers from China, India, Russia, Thailand, Indonesia, Malaysia, and Japan until March 31, 2024.

This initiative aims to keep pace with other Asian destinations that are striving to rejuvenate their tourism sectors impacted by the COVID-19 pandemic.

Furthermore, approval was granted for the introduction of a single payment package ticket that allows foreign tourists access to world heritage sites and historical places.

The primary objective is to simplify the process for tourists, making it more convenient for them to visit these sites without the hassle of dealing with traffic.

Under this new system, tourists can purchase tickets at the airport or online.

Additionally, tourists will have the option to buy railway coach tickets online or at the airport, providing a one-time ticket solution for their travel needs.

These measures aim to improve the overall tourist experience and encourage more visitors to explore Sri Lanka’s cultural and historical treasures.

This incentive package is being offed to tourists at a time the country experiencing new revival in the industry with more travelers’ visiting the island.

Sri Lanka’s tourism industry welcomed a total of 64,317 tourists in the first 19 days of October, but this figure represents only 56% of the monthly target set at 147,789, leaving stakeholders cautiously optimistic with just 12 days remaining.

The surge in arrivals during the first 19 days of October has boosted the cumulative number of visitors for the year to 1.08 million, demonstrating a resilient recovery following the multiple challenge-induced downturns.

India emerged as the leading contributor to the tourist influx, accounting for 15,861 arrivals during the first 19 days of October, followed by Russia with 5,666, the UK with 5,279, Germany with 4,241, and China with 4,055 arrivals.

Sri Lanka has set its sights on a year-end target of 1.55 million tourists, signaling confidence in the country’s ability to re-establish itself as a premier tourist destination.

Year-to-date figures reveal a consistent trend, with India maintaining its position at the forefront, accounting for 216,171 tourists. Russia followed with 137,966 arrivals, and the UK contributed 96,122 visitors to Sri Lanka’s growing tourism sector.

Industry analysts said the steady recovery underscores the resilience and appeal of Sri Lanka as a destination of choice, offering travellers a rich blend of cultural heritage, natural beauty and hospitality.

By: Staff Writer

Colombo (LNW): The Japanese Government has agreed to provide a grant of JPY 200 million, under their economic and social development programme, towards the development of Sri Lanka’s fisheries industry.

The grant aims to empower the fisheries industry by developing freezer facilities and supplying modern equipment, in a bid to add further value and uplift the living standards of the fishing communities in the Northern and Eastern provinces.

Accordingly, the grant, amounting to roughly Rs. 435 million, is expected to supply ice production machines and digital scales for the Ceylon Fisheries Harbour Corporation,.

The Japanese grant will provide funds to procure fishing nets for the National Aquaculture Development Authority and deep freezers, along with tractors installed with deep freezers, to the Department of Fisheries and Aquatic Resources.

Meanwhile the Asian Development Bank (ADB) has agreed to provide USD 100 million (Rs32.83 billion) for a new project set to be launched by the Sri Lankan government, titled the ‘Small and Medium Enterprise Development Finance Project’.

The project aims to aid those entrepreneurs of Small and Medium Enterprises (SMEs) who find it difficult to finance their businesses.

Meanwhile, the establishment of a ‘National Credit Protection Institute’ was also agreed on, through which banks will prioritize asset-based lending over cash-flow based lending, allowing for less rigidity.

The ‘Small and Medium Enterprise Credit Scheme Project’ was initially implemented by the government of Sri Lanka, with financial support amounting to USD 165 million from the ADB, to provide investment and working capital loans to SMEs at concessional interest rates.

The proposed project is a line of credit through 13 participating financial institutions (PFIs) to targeted small and medium-sized enterprises (SMEs) in Sri Lanka, including SMEs that are led by women, are first-time borrowers, do not sufficient collateral and are located outside of Colombo.

The fund allocation for 10 PFIs has been made on a competitive basis. The project also includes an attached technical assistance (TA) for (i) developing innovative financial schemes for SMEs and promoting export-oriented cluster development (funded by the Japan Fund for Poverty Reduction (JFPR)

It is also for developing an ecosystem for women entrepreneurship in Sri Lanka (funded by the Women Entrepreneurs Finance Initiative (We-Fi).