Sri Lanka secured the 31th spot out of 55 countries surveyed in Climatescope 2014 with a score of 1.05. It had its best performance on Low-Carbon Business Parameter III, scoring particularly well on the financial institutions and service providers indicators.
Sri Lanka’s power sector is dominated by vertically-integrated utility Ceylon Electricity Board and its transmission and distribution are completely state owned. Still, there a handful of independent power producers do operate in the country.
Sri Lanka’s installed capacity stands of 3.34GW - well above typical peak demand of 2.2GW. However, expensive diesel generators account for virtually all the excess capacity.
The government has made wind and solar energy priorities for development.
Cumulative non-large hydro clean energy investment in Sri Lanka totaled $6.18bn from 2006-13 with $1.34bn coming in 2013 alone. Of that 2013 total, 40.7% went toward the development of projects employing small hydro technology, the country’s flagship renewable sector.
Sri Lanka’s economy more than doubled in size since 2006 and in 2013 the country had a national GDP of $66.3bn. Since 2006, the electrification rate increased from 78% to 95%, installed capacity overall has jumped 38%, with renewable capacity rising 66%.