RENEWABLE ENERGY GROWTH FORUM - SRI LANKA CHAPTER
02-03 MARCH 2023
BMICH, COLOMBO, SRI LANKA
UNLOCKING THE ERA TO NET ZERO EMISSIONS...!
Sri Lanka is situated strategically at the crossroads of major shipping routes to South Asia, the Far East and the continents of Europe and America, making the country a convenient port of call for shipping lines and airfreight services. It’s strategic location provides great opportunities to enter into free trade and partnership agreements with several Asia’s trade powerhouses.
Investments and its security
Sri Lanka has entered into 28 Bilateral Investment Promotion and Protection Treaties (BITs) so far, providing a protection to foreign investments within the country. The Inland Revenue Act provides an incentive regime consisting of tax exemptions; zero and reduced corporate income tax (CIT) rates, for specific sectors and enhanced capital (ECA) allowances based on capital investments made by the investors.
Relief from Double Taxation
Sri Lanka has entered in to Double Taxation Avoidance Agreements with 44 countries to eliminate or mitigate the incidence of juridical double taxation and avoidance of fiscal evasion in the international trade (or transactions).
Quality of life
Sri Lanka often referred to as the ‘pearl of the Indian ocean’, is claimed by both locals and expats alike as a truly great place to live and work. A country of many facets, Sri Lanka offers a spectrum of experiences, cultures and places for those who enjoy diversity and variety. The country’s expansive beaches, rolling hills, rainforests and cosmopolitan cities make Sri Lanka an eclectic experience for all.
Energy Sector in Sri Lanka
The Sri Lankan government aims to be an energy self-sufficient nation by 2030. The objective is to increase the power generation capacity of the country from the existing 4,043 megawatts (MW) to 6,900 MW by 2025 with a significant increase in renewable energy. Sri Lanka has already achieved a grid connectivity of 98 percent, which is relatively high by South Asian standards. Electricity in Sri Lanka is generated using three primary sources: thermal power (which includes coal and fuel oil), hydropower, and other non-conventional renewable energy sources (solar power and wind power).
Top reasons to be in Sri Lanka:
- High profile business meetings with the topmost leaders in the industry
- High demand of quality Solar products, EV & Storage
- One of the largest trading markets in the Region
- Progressive business growth in Energy Market
- Network with dealers, distributors, system integrators, project developers and EPC players
- Congregation of experts from the fields of technology, innovation and finance in the RE Sector
- Meet and connect with the Government representatives and policy makers
- Opportunity to meet private associations working in the RE Space
- Products display area to source Solar Panel, Inverters, Energy Solutions, Floating Solution
- Opportunity to enhance the brand visibility by associating with potential buyers and associations
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