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Monday June 3rd, 2024

Sri Lanka’s Adani wind power purchase price below other non-tendered rates: Minister

ECONOMYNEXT- The proposed purchase price of a wind power project by India’s Adani group in Sri Lanka is below other renewable rate give without competitive tender, according to Energy Minister Kanchana Wijesekera.

The rupee equivalent of the dollar tariff for Adani wind plants is 27.65 rupees, a unit Wijesekera told parliament, which was below a rate set for feed in tariffs by a committee.

“You requested and we were also blamed for giving only 22.50 rupees for rooftop solar and to take it to 45 rupees to encourage it,” Wijesekera said responding to a question from Athureliye Rathana, a monk who supports renewable energy and opposed chemical fertilizer.

“We were told to give 45 rupees. We appointed a committee, which looked at the US dollar rate at the time, interest and import costs and gave a feed in tariff of 37 rupees a unit.”

“Ground mounted wind is given 43 rupees for plants below 10 MW. The Adani proposal is below 30 rupees.

“We are now giving 37 rupees for solar and 43 for wind through feed in tariff for local companies. If we are getting below 30 rupees it is an advantage.”

Minister Wijesekera said the proposed price was 0.897 US cents. It was not clear whether he meant 8.97 US cents.

Sri Lanka’s rupee has been allowed to appreciate to 308 to the US dollar by the central bank, after operating deflationary policy.

Adani had proposed setting up 500MW of wind plants in Mannar and Pooneryn. The actual plant factor in Mannar is already known and is known to have high plant factor.

An energy permit was approved by Sri Lanka’s Sustainable Energy Authority for the Pooneryn plant for 234MW last month.

Long term power purchase agreement set by negotiated rates has been controversial especially after the CEB law was amended to allow large plants without competitive tender.

Plants on competitive tenders have come at sharply lower rates than feed in tariffs when open bids were called.

Unusually, small plants have also come at very low rates in the past, defying the ‘economies of scale argument’ which has been attributed to a more competition from bidders who are willing to bid for smaller plants. (Colombo/Mar07/2024)

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Water levels rising in Sri Lanka Kalu, Nilwala river basins: Irrigation Department

Sri Lanka Navy assisting in rescue operations (Pic courtesy SL Navy)

ECONOMYNEXT – Sri Lanka’s Irrigation Department has issued warnings that water levels in the Kalu and Nilwala river basins are rising and major flooding is possible due to the continuous rain. People living in close proximity are advised to take precautions.

“There is a high possibility of slowly increasing prevailing flood lowline areas of Kiriella, Millaniya, Ingiriya, Horana, Dodangoda, Bulathsinhala, Palinda Nuwara and Madurawala D/S divisions of Ratnapura and Kalutara Districts, up to next 48 hours,” it said issuing a warning.

“In addition, flood situation prevailing at upstream lowline areas of Ratnapura district will further be prevailing with a slight decrease.

“The residents and vehicle drivers running through those area are requested to pay high attention in this regard.

“Disaster Management Authorities are requested to take adequate precautions in this regard.”

The island is in the midst of south western monsoon.

DMC reported that 11,864 people belonging to 3,727 families have been affected due to the weather in Rathnapura, Kegalle, Kilinochchi, Jaffna, Mullaitivu, Kalutara, Gampaha, Colombo, Galle, Matara, Hambantota, Puttalam, Kurunegala, Kandy, Nuwara Eliya, Anuradhapura, Polonnaruwa, Badulla, Moneragala, and Trincomalee districts.

Meanwhile, the Meteorology Department stated that showers are expected on most parts of the island today.(Colombo/June3/2024)

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UNP gen secy defends call for postponing Sri Lanka poll, claims opposition silent

The UNP party headquarters in Pitakotte/EconomyNext

ECONOMYNEXT — United National Party (UNP) General Secretary Palitha Range Bandara has defended his call for postponing Sri Lanka’s presidential election by two years, claiming that his proposal was not undemocratic nor unconstitutional.

Speaking to reporters at the UNP headquarters Monday June 03 morning, Bandara also claimed that neither opposition leader Sajith Premadasa nor National People’s Power (NPP) leader Anura Kumara Dissanayake have spoken against his proposal.

“I have made no statement that’s undemocratic. My statement was in line with provisions of the constitution,” the former UNP parliamentarian said.

He quoted Section 86 of Chapter XIII of the constitution which says: “The President may, subject to the provisions of Article 85, submit to the People by Referendum any matter which in the opinion of the President is of national importance.”

Sections 87.1, 87.2 also elaborates on the matter and describes the parliament’s role, said Bandara.

“I spoke of a referendum and parliament’s duty. Neither of this is antidemocratic or unconstitutional. As per the constitution, priority should be given to ensuring people’s right to life,” he said.

“Some parties may be against what I proposed. They may criticse me. But what I ask them is to come to one position as political parties and make a statement on whether they’re ready to continue the ongoing economic programme,” he added.

Bandara claimed that, though thee has been much criticism of his proposal for a postponement of the presidential election, President Wickremesinghe’s rivals Premadasa and Dissanayake have yet to remark on the matter.

“I suggested that [Premadasa] make this proposal in parliament and for [Dissanayake] to second it. But I don’t see that either Premadasa nor Dissanayake is opposed to it. To date, I have not seen nor heard either of them utter a word against this. I believe they have no objection to my proposal which was made for the betterment of the country,” he said. (Colombo/Jun03/2024)

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300 of 100,000 trees in Colombo considered high risk: state minister

ECONOMYNEXT – Trees in Sri Lanka’s capital Colombo are being monitored by the municipal council, Army and Civil Defense Force as the severe weather conditions continue, State Minister for Defense Premitha Bandara Tennakoon said.

“Within the Colombo Municipal Council city limits, there are 100,000 trees. Of these, around 300 are considered high risk,” Tennakoon told reporters at a media conference to raise awareness about the current disaster management situation.

Not all trees required to be cut down he said. “We can trim some of the branches and retain them.”

The problem was that buildings in the vicinity of the tree had cut branches on one side, causing it to become unbalanced, the minister said.

New laws would be brought in so provincial/municipal institutions could strengthen enforcement of building codes.

“We don’t have a single institution that can issue a warning about a tree. Not one to tell us what trees can or cannot be planted near a road.

“Trees should be suitable for the area. Some trees have roots that spread and damage roads, buildings. When the roots can’t go deep, they tend to topple over.

“Now Environment Day is coming up, and anyone can go plant a tree by the road. We have to take a decision about this. We have to enforce laws strongly in future.” (Colombo/June3/2024)

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