Sri Lanka To Sign MoU With BIMSTEC

Sri Lanka To Sign MoU With BIMSTEC
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Cabinet has granted approval for Sri Lanka to enter into a MoU with members of the Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) to build a common power grid interconnection to facilitate energy trade among the member countries.

At the Ministerial meeting of BIMSTEC held in October 2015, member countries approved of an action plan for energy cooperation among member states. A MoU was also thereafter drafted for member states towards the “implementation of grid interconnections for the trade in electricity with a view to promoting national and optimal power transmission in the BIMSTEC region”.

The Ministry of Power and Renewable Energy is the implementing authority of the agreement in Sri Lanka and this week, they submitted the MoU for Cabinet approval after having received the green light from the Ministry of Industry and Commerce, Public Utilities Commission of Sri Lanka, the Ceylon Electricity Board and the Sri Lanka Sustainable Energy Authority.

 

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