• Claims deadlines extended due to industry requests

The Board of Investment (BOI) has extended the submission deadline for the Request for Information (RFI) regarding the development of green hydrogen and green ammonia projects, despite a global context where nations are expediting capacity to weather global disruptions.

Initially set to close on 5 June, the new deadline is now 19 June, 3 p.m. Sri Lanka Time. The changes in the goalposts for the RFI send mixed signals about the Government’s urgency to induct more renewable energy sources to improve energy sovereignty.

When asked about the reasons behind the sudden deadline extension, BOI Director General Renuka Weerakone claimed that the decision was driven by the industry itself rather than a lack of interest. 

“The extension is primarily a result of direct requests from prospective companies. They required additional time to prepare and submit comprehensive requests for information, which is the primary reason the deadline has been pushed back,” Weerakone noted.

The RFI is a joint initiative with the Ministry of Energy designed to attract qualified local and international investors, developers, and operators. 

The Government is seeking comprehensive project concepts for green hydrogen and ammonia manufacturing, export terminals, storage facilities, and green hydrogen component manufacturing. 

The extension comes at a critical time as Sri Lanka attempts to pivot towards sustainable energy and achieve ambitious environmental targets set by previous administrations.

Sri Lanka has established a clear national target to generate 70% of its electricity through renewable sources by 2030, alongside a long-term goal of achieving carbon neutrality in power generation by 2050.

Further clarifying the nature of the submissions, Weerakone added: “This process is solely an RFI and not a formal request for proposals. We identified no issues in granting an extension, as it allows us to gather more extensive data to better understand the market and ensure the correct policy frameworks are established.”

When asked if the extension was due to a lower-than-expected volume of initial submissions, she responded: “On the contrary, we have received a highly encouraging and substantial response from interested parties.”

Large-scale energy infrastructure projects frequently encounter delays due to overlapping governmental jurisdictions and complex bureaucratic procedures. To mitigate these issues, the current information gathering process is structured as a collaborative effort between the BOI and the Ministry of Energy. 

Weerakone said that the two entities would divide their responsibilities to streamline the evaluation process. “This initiative is being conducted as a joint RFI. The technical aspects are being evaluated by the Ministry of Energy, as it falls entirely within its purview, while the BOI will be assessing investment viability. The overarching objective of this exercise is for our respective institutions to collaborate, understand the requirements, and subsequently ensure the appropriate infrastructure is in place to successfully launch the project,” she explained.

When questioned about the specific regulatory safeguards the BOI was offering to protect these investments, Weerakone said: “The fundamental purpose of this ongoing exercise is to establish all necessary regulatory and operational frameworks in a proper and structured manner. At this current juncture, it would be premature for me to provide specific comments regarding exact regulatory safeguards.”

The extension of the deadline naturally raises questions regarding the broader timeline for actual project implementation and whether these delays will hinder the national goal of 70% renewable electricity by 2030.

Addressing these concerns, Weerakone provided a broader perspective on the country’s energy transition: “Green hydrogen is a vital component of our renewable energy strategy, functioning alongside parallel developments in the solar, wind, and biofuel sectors. At present, Sri Lanka is over 59% compliant with renewable energy targets, and we are working to integrate the remaining capacity. 

“While we have sufficient time before the 2030 deadline, it is imperative that we establish accurate policies and foundational infrastructure to propel this initiative forward, which is the exact purpose of this current exercise.”

Commenting on the timeline for this transition, Weerakone said: “The subsequent timeline will depend entirely on the discussions conducted by the Ministry of Energy once the submissions are opened and technical evaluations regarding project requirements are completed. While I cannot provide a definitive timeline at this moment, it is certainly our intention to expedite the process and transition to the next phase as swiftly as possible.”