Sri Lanka, Jan. 29 -- Sri Lanka will need around USD 7 to 8 billion in investments, to achieve the 70% renewable energy (RE) target by 2030, said co-founder and Managing Director/CEO of Regen Renewables (Pvt) Ltd and Chairman, SRT Energy (Pvt) Ltd, Dr. Lakmal Fernando.

"We are aiming at adding 9GW of RE (combination of wind and solar) to the national grid to achieve the 70% Renewable Energy target by 2030 and to meet international climate control goals and commitments.

"However funding for this is a major uphill task for a financially unstable economy such as Sri Lanka and would have to look at foreign funding for these projects," he said.

Dr. Fernando was speaking at the 64th Annual General Meeting of the National Chamber of Commerce ...