By Yohan Perera 

Chief Government Whip Highways Minister and Chairman of the cabinet sub committee to expedite renewable energy, Johnston Fernando yesterday said. Approval of the sub committee has been given to India’s Adani Group to invest 500 million US dollars in developing renewable energy projects. The Minister said  President Gotabaya Rajapaksa has issued instructions  to generate 5000 MW via renewable energy sources and add them to the national grid within next six years.

“As a part of the new programme the approval of the cabinet sub committee has been given to India’s Adani Group to invest 500 million US dollars in developing renewable energy projects in Sri Lanka, the Minister said, adding that the Indian company is expected to invest in more similar projects in Sri Lanka.

Minister Fernando said the government has decided not to delay any foreign direct investments and is also determined to act severely against those who delay them.

“The country’s energy requirement is increased annually by 5 to 8 percent owing to new development projects, construction of more houses and new factories. The government is of the view to cover the increased demand making use of renewable energy” he said. 

 Minister Fernando said that the focus of the cabinet sub-committee is geared towards selecting suitable investors from those who had expressed their willingness to invest in identified renewable energy projects,