Promoting Private Sector Investment in Energy Transition

Jun 2023 May 2023 Promoting Private Sector Investment in Energy Transition56246-001Sri LankaApprovedTechnical AssistanceTA 10105-SRI: Promoting Private Sector Investment in Energy TransitionJapan Fund for Prosperous and Resilient Asia and the PacificUS 1.00millionRepublic of Korea e-Asia and Knowledge Partnership FundUS 1.00millionUS 1.00millionUS 1.00millionOP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainabilityOP6: Strengthening governance and institutional capacityEnergy Renewable energy generation - solar-Renewable energy generation - wind Some gender elements This knowledge and support technical assistance aims to support Sri Lanka to accelerate energy transition by promoting private investments in renewable energy. The TA will help the country to enhance readiness for project investments in large scale wind and floating solar projects through viability assessments and innovative financing schemes to attract private investors with competitive prices. The TA will identify and prepare renewable project schemes for private investments with technical, financial, contractual, and capacity development arrangements. In parallel, the TA will help the identified projects improve financing readiness for implementation through the design of incentive schemes and risk mitigation packages.The TA aims to increase the share of renewable energy sources with private sector participation. Renewable energy development will be a key solution to tackle various issues such as energy security, climate change, financial sustainability and economic growth. The TA is aligned with the National Energy Policy and Strategies of Sri Lanka, which aims to ensure energy security through sustainable, reliable, and economically feasible energy supply.Impacts the TA is Aligned withShare of renewable energy with private sector participation increasedUS 1.00millionUS 1.00millionReadiness for project investments in renewable energy enhancedBankable wind power projects identified and preparedFloating solar projects identified and preparedInnovative financing and incentive schemes for private sector participation developedNation-wideNot applicableNot applicableSon, JongmiSouth Asia DepartmentEnergy Division, SARDMinistry of Power and Energy23 Nov 202223 Nov 2022to 10 Jan 2023-12 May 2023-12 May 2023Technical Assistance Letter Technical Assistance Reports Individual - Consulting

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