South Korea Reaffirms Commitment to Supporting Sri Lanka’s Renewable Energy Goals
- 5opn1
- January 17, 2025
- Political
- South Korea Reaffirms Commitment to Supporting Sri Lanka's Renewable Energy Goals
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South Korea has expressed interest in supporting Sri Lanka’s renewable energy program. South Korea has provided grants and pilot projects to help Sri Lanka achieve its renewable energy goals.
The Korea Green Growth Trust Fund (KGGTF) has provided grants to help Sri Lanka achieve its renewable energy goals.
It has provided pilot projects, such as installing floating solar panels on Chandrika Wewa in Rathnapura district. South Korea has expressed interest in investing in Sri Lanka’s renewable energy sector.
Korean Ambassador to Sri Lanka, Miyon Lee, met with the Minister of Energy yesterday morning at the Ministry’s office. Extending her congratulations and support to the new government’s Ministry of Energy, Ambassador Miyon Lee highlighted Korea’s advancements and achievements, particularly in the renewable energy sector.
She conveyed her best wishes to the government, led by the widely popular President, as a close ally of Korea. She also expressed Korea’s desire for closer collaboration between the Korean government, the private sector, and the new administration. Furthermore, she assured maximum support in achieving the new government’s goals in the energy sector.
Minister of Energy, Engineer Kumara Jayakody, remarked that South Korea’s remarkable progress despite challenging periods serves as an inspiration and support to Sri Lanka, which is navigating its way through challenging times. He emphasized the need for direct investments and joint projects from the Korean government and private sector.
The minister also noted that the new government’s transparent and corruption-free economic policies aim to deliver maximum benefits to all stakeholders.
Additionally, he shared his personal experience of working for a renowned South Korean company and visiting Korea, which allowed him to witness the discipline, skills, and dedication of the Korean people.
He expressed his gratitude for Korea’s continued support toward Sri Lanka’s energy sector and other areas.
Sri Lanka aims to generate 70% of its electricity from renewable sources by 2030. South Korea has pledged to triple the global renewable energy generation capacity by 2030.
The island nation’s location near the equator provides a consistent supply of solar radiation throughout the year. Sri Lanka can use enhanced geothermal systems (EGS) to generate electricity.
Sri Lanka’s graphite could be a valuable resource for South Korea’s semiconductor, battery, and automobile industries
