Rooftop solar developers given bulk dues by CEB
Continuous lobbying by renewable energy stakeholders to the Power Ministry on past payments resulted in a small victory for rooftop solar developers.
They were paid all dues up to last December by the Ceylon Electricity Board (CEB), an industry official told The Business Times on Thursday.
They said that some other positive outcomes were also arrived at the meeting the stakeholders had with Power Minister Kanchana Wijesekera on Wednesday. The minister had ordered the CEB to grant the dues to other renewable energy developers such as ground mounted and hydro energy developers, officials at the meeting said.“He directed the CEB to pay these dues by July,” an official said.
The fixed tariff for the renewable energy developers has already been set and a few months ago the minister appointed a tariff committee related to solar energy which will see tariffs changing depending on the market changes, officials said. “The minister gave the option of a variable formula to those who wanted variable rates according to the fluctuations in interest rates and the exchange rate,” a renewable energy firm CEO said. The variable tariff formula will be introduced in the next couple of months, the minister said at the meeting.
They said that with a cost-reflective tariff for solar as well as the CEB committing to its obligations, the industry can re-establish the buoyant trend seen in the in 2021.
These renewable energy businesses are faced with very big bad loans. Some months ago, they met with the bankers to discuss rescheduling and providing some sort of relief to the industry, but there was no conclusion.
Industry officials insist that renewable energy is the future. “We have a lot of solar and wind opportunities.We can subsidise fuel imports by encouraging renewable energy.The renewable energy industry should be encouraged for future benefits in the country,” a solar power developer said.
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!