Colombo: Energy sector stakeholders have called for policy reforms, regulatory certainty and stronger investment frameworks to accelerate Sri Lanka's transition to renewable energy, warning that coordinated action is essential to meet the country's growing electricity demand while reducing dependence on imported fossil fuels.

The recommendations emerged during a forum titled "Energy Transition in Sri Lanka: Strategic Insights from Global Markets," organised by the Ceylon Chamber of Commerce, which brought together representatives from government, industry, academia and the energy sector to discuss the reforms needed to build a secure, affordable and sustainable energy system.

Participants identified solar power as a key driver of the country's renewable energy expansion, stressing the importance of competitive purchase tariffs, transparent procurement mechanisms and the development of distributed renewable energy projects to attract private investment, improve grid reliability and minimise transmission losses.

The forum highlighted several obstacles slowing renewable energy deployment, including policy inconsistency, lengthy approval procedures, land acquisition challenges, grid limitations and implementation delays. Stakeholders said a predictable policy environment, streamlined regulatory processes and stronger coordination among institutions are critical to boosting investor confidence and expediting renewable energy projects.

Discussions also focused on procurement frameworks, financing models and electricity sector reforms needed to unlock future investment. Participants noted that net metering and feed-in mechanisms can encourage businesses to adopt solar power by allowing surplus electricity to be supplied to the national grid. They also emphasised the need for greater access to financing, more bankable project structures and timely payments to renewable energy developers to ensure the sector's financial sustainability.

Energy storage was identified as another priority, with stakeholders underscoring its role in improving grid stability, increasing system flexibility and supporting greater integration of renewable energy. Drawing on international experience, participants called for clear technical standards, safety regulations, financing mechanisms and market structures to facilitate the deployment of solar-plus-storage solutions in Sri Lanka.

The forum also examined the broader economic impact of the energy transition, noting that rising electricity demand driven by digitalisation, artificial intelligence, electric vehicles and data centres will require significant investment in modern grid infrastructure and emerging technologies to strengthen the country's long-term economic competitiveness.

Participants further highlighted the importance of developing skilled human resources through closer collaboration between industry and academia, expanded technical training programmes and stronger local expertise in renewable energy and energy storage technologies.

The dialogue concluded with a consensus that achieving Sri Lanka's renewable energy goals will depend on coordinated policy, regulatory, financing and infrastructure reforms to create a stable environment for long-term investment and sustainable growth