Climatescope 2025

Sri Lanka

With a power score of 2.22, Sri Lanka ranks number 34 among Emerging markets and number 14 in the Asia-Pacific region.

Power score
2.22/5

Fundamentals3.10/5
Opportunities0.89/5
Experience1.78/5
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Ranking over time2.22/5

Explore the ranking over time

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Overview

Sri Lanka has a power score of 2.22, which puts it at rank 34 in the Emerging Markets power ranking. The power score of Sri Lanka is higher than the average of 2.17 in the Asia-Pacific region.

Regional comparison chart

In the chart above all geographies within the region are arranged by power score from left to right. The circles are sized based on the population.

Power

Power policy

Sri Lanka implements policies in 6/8 categories tracked by Climatescope; Renewable energy target, Auctions/tenders (utility-scale), Feed-in tariff/premium (utility-scale), Support for customer-sited generation (rooftop and self-consumption), Tax incentives, and REC'S - Renewable Energy Certificates

Renewable energy target
Auctions/tenders (utility-scale)
Feed-in tariff/premium (utility-scale)
Support for customer-sited generation (rooftop and self-consumption)
Tax incentives
Renewables mandate/RPS/Supplier Obligation
REC'S - Renewable Energy Certificates
Priority generation dispatch

Power prices and costs

The average electricity price in Sri Lanka has increased from ~$131/MWh in 2023 to ~$142/MWh in 2024. Since 2019, the average electricity price in Sri Lanka has fluctuated between ~$64/MWh in 2022 and ~$142/MWh in 2024.

Electricity prices in Sri Lanka (2019-2024)

Power market

The top amount of capacity installed in Sri Lanka in 2024 was in Hydro at 1.84GW, up from 1.83GW in 2023.

Installed capacity (2019-2024)

Electricity generation (2019-2024)

The technology with the largest share of electricity generated in Sri Lanka in 2024 was Hydro at 6.02TWh, up from 5.96TWh in 2023.

Investment in Sri Lanka (2019-2024)

Investment in clean energy in Sri Lanka was around $842.86M in 2024. This amounts to an increase of around 2% from $823.61M in 2023.

Utility privatisation

Which segments of the power sector are open to private participation?

generation
transmission
retail

Doing business and barriers

Type
Question
Availability
Bilateral power contracts
Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
Currency of Corporate PPAs
Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
Fossil fuel price distortions - Subsidies
Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
Fossil fuel price distortions - Taxes and carbon prices
Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
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Emerging Markets Power Transition Factbook

This is the 14th edition of Climatescope, BloombergNEF’s annual assessment of energy transition opportunities in emerging markets. It highlights how the energy transition is progressing in these markets and how they are harnessing the transition to boost attractiveness to outside investors.

Download the report