Sri Lanka is moving forward with plans to build three nuclear power plants capable of generating a combined 900 megawatts of electricity, with the government seeking investors to fund the ambitious project. According to Professor S. R. D. Rosa, Chairman of the Sri Lanka Atomic Energy Board, the letter of intent for the project has been finalized with input from the Attorney General’s Department. The corresponding cabinet paper is expected to be submitted in early January 2025.
The project will be awarded to a company that meets the government’s conditions, with a key stipulation being that the entire construction cost must be borne by the selected investor. The Sri Lankan government will not contribute financially to the project but will purchase electricity generated from the power plants at an affordable price, ensuring economic viability and a stable supply of power.
Several unpopulated coastal areas in Mannar and Pulmude have been identified as potential sites for the plants, with final locations to be determined after comprehensive studies. These sites were chosen for their suitability in terms of safety, environmental impact, and logistical considerations.
The construction timeline for the nuclear plants anticipates completion after 2035, signaling a long-term strategy to diversify Sri Lanka’s energy mix and address the country’s growing energy demands. The initiative aligns with global trends toward adopting cleaner and more sustainable energy sources.
By leveraging private investment, the government aims to develop nuclear energy infrastructure without straining public finances. This approach is expected to attract both local and international companies interested in participating in Sri Lanka’s energy sector while positioning the nation as a pioneer in nuclear energy in the South Asian region.
Further details on the project, including investor criteria and technical specifications, will be outlined following the Cabinet’s review and approval of the proposed framework.
