Priya Aditi
India and Sri Lanka have agreed to interconnection their high-capacity power grids in order to facilitate bidirectional electricity trade between the island nation and other regional nations.
The bilateral document released by the Ministry of External Affairs (MEA) stated, “To establish a high-capacity power grid interconnection between India and Sri Lanka to enable bidirectional electricity trade between Sri Lanka and other regional countries, including the BBIN countries, which has the potential not only to reduce the cost of electricity in Sri Lanka but also to create a valuable and reliable source of foreign exchange for Sri Lanka.”
According to the bilateral document, the MOU on cooperation in developing renewable energy would develop Sri Lanka’s significant renewable energy potential, including offshore wind and solar. The MOU will allow Sri Lanka to reach its goal of generating 70 percent of its electricity needs from renewable sources by 2030.
The two countries have agreed to expedite the implementation of the Sampur Solar power project and LNG infrastructure agreement.
“To expedite implementation of the agreement reached on the Sampur Solar power project and LNG infrastructure, and to explore cooperation in green hydrogen and green ammonia through the use of innovative technologies with the objective of increasing the proportion of renewable energy in Sri Lanka’s power generation,” the joint statement reads.
On the basis of mutual understanding, India and Sri Lanka have agreed to further develop Trincomalee as a national and regional centre for industry, energy, and economic activity.
The bilateral document states, “The ongoing cooperation in the development of Trincomalee Tank Farms is a reflection of our efforts to develop mutually beneficial cooperation projects in the Trincomalee area, and we agreed to further develop Trincomalee as a national and regional hub of industry, energy, and economic activity based on mutual understanding.”
India and Sri Lanka have agreed to collaborate on the construction of a multi-product petroleum conduit from the southern part of India to Sri Lanka in order to provide Sri Lanka with an affordable and dependable energy supply.
Further, the bilateral document stated, “To undertake mutually agreed joint exploration and production of hydrocarbons in Sri Lanka’s offshore basins with the aim of developing Sri Lanka’s upstream petroleum sector.”
Colombo, Trincomalee, and Kankesanthurai, with the goal of consolidating regional logistics and cargo. Additionally, India and Sri Lanka agreed to reinstate passenger ferry service between Nagapattinam and Kankesanthurai.
The document released by India and Sri Lanka states, “To cooperate in the development of ports and logistics infrastructure at Colombo, Trincomalee, and Kankesanthurai in order to consolidate regional logistics and shipping.”
It continues, “To resume passenger ferry services between Nagapattinam, India, and Kankesanthurai, Sri Lanka, and to work towards the early resumption of ferry services between Rameshwaram and Talaimannar and other mutually agreed upon locations.”
Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe signed the bilateral document during delegation-level talks in New Delhi. Prime Minister Narendra Modi stated on Friday that Sri Lanka holds a special position in India’s neighbourhood first policy and that the two countries’ security interests and development are intertwined.
In his remarks to the media following discussions with Sri Lankan President Ranil Wickremesinghe, the Prime Minister stated that the two countries have agreed to increase aviation connectivity.
Sri Lanka holds a crucial position in both India’s ‘Neighbourhood First’ policy and ‘SAGAR’ vision. We discussed bilateral, regional, and international issues today. The security and development interests of India and Sri Lanka are intertwined, according to the Indian prime minister.
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“We concur with the expansion of air travel between India and Sri Lanka. “We have decided to launch passenger ferry services between Nagapattinam, Tamil Nadu, and Kankesanturai, Sri Lanka, in order to increase trade and travel,” he added.
