Participation in JICA Project "Advisor for Facilitating Power Sector Reform in Sri Lanka"

Chubu Electric Power Company, Inc. and Nippon Koei Company Ltd. have entered into a consulting service agreement with Japan International Cooperation Agency (JICA) regarding "Advisor for Facilitating Power Sector Reform" in Sri Lanka.

In Sri Lanka, the increasing demand for electricity have led to a serious problem of power shortage and instability, despite the use of thermal power generation to meet the growing power demand. This is due to the stagnation of fuel imports caused by factors such as the soaring fuel prices. In response to this situation, the Sri Lankan government has set a goal to achieve a renewable energy generation of over 70% by 2030, aiming for a stable power supply and decarbonization through renewable energy sources.

However, the large-scale integration of variable renewable energy sources such as solar and wind power raises concerns about destabilizing the power grid. Therefore, it is necessary to ensure the availability of balancing power sources such as pumped hydro storage and to have advanced operational capabilities for maintaining the power supply-demand balance.

During the Project period from November 2024 to December 2026, we will support the National System Operator (NSO), which is planned to be established as the organization overseeing the power grid, in enhancing its capabilities for stable grid operation to accommodate the expanded introduction of variable renewable energy. Additionally, we will assist in reviewing Sri Lanka's hydropower development plans and examining potential sites for hydropower plants, including pumped hydro storage, across the country.

Through the Project, we will utilize our experience and know-how cultivated over the years in the domestic electric power business and overseas consulting business to contribute to the development of the electric power business in Democratic Socialist Republic of Sri Lanka.

We will contribute to the realization of a decarbonized society and Chubu Electric Power Group Management Vision 2.0 by active expanding of our global business, including overseas consulting business.

[Summary of the project]