(MENAFN- Colombo Gazette) Sri Lanka is studying South Australia's energy transition policy, which looks at net-zero emissions by 2050.

President Ranil Wickremesinghe said that Sri Lanka needs to decide if it requires energy transition legislation.

“Some countries have energy transition legislation. We have also looked at that. We have looked at some areas such as South Australia. It may be useful for us to have energy transition legislation,”the President said.

The President expressed these views at the“Advancing Energy Transition” roundtable discussion held at the Hilton Colombo, Wednesday.

The event, held in collaboration with the World Bank, the Ministry of Power and Energy, and the Ceylon Electricity Board (CEB), provided a platform for discussing the country's energy transition.

Speaking at the event, President Ranil Wickremesinghe emphasized the need for a comprehensive plan to exploit renewable energy and explore future trends in green hydrogen in Sri Lanka.

“There are new undersea cables coming for power distribution. One is between Australia and Singapore, and the other is between Singapore and India. Now Sri Lanka has the potential to connect to the Indo-Singapore undersea cable. That is where the potential is. While looking at the uses of green hydrogen, we feel that it will help us in the long term to become a logistics centre for the region,” he said.

President Wickremesinghe highlighted a recent report by PricewaterhouseCoopers on green hydrogen, noting its importance and the necessity for detailed planning to leverage this emerging sector.

He acknowledged the gaps in local expertise and called for international assistance from organizations such as the World Bank (WB), the Asian Development Bank (ADB), and all stakeholders, including local and international investors.

He stressed that Sri Lanka is committed to creating a sustainable and competitive economy, with renewable energy playing a pivotal role.

The President outlined the country's legislative efforts, including the recently passed Electricity Reform Bill and the upcoming Climate Change Act, aimed at facilitating this transition. (Colombo Gazette)

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