Lanka inundated with energy queries at Germany’s DAW

• First-ever Lanka Environment Forum in Germany takes off
• Lanka Consul Pradip J. reveals how he brought Shell to Sri Lanka

Sri Lanka’s energy sector has won the attention of serious German investors. “Both the public sector and the private sector of Sri Lanka are conducive to environment friendly technologies and are seeking to partner with leading German companies,” Sri Lankan Minister for Environment and Renewable Energies Susil Premajayantha said, addressing the ‘Environment Forum Sri Lanka’ held in Frankfurt Germany recently.

The ‘Environment Forum Sri Lanka’ in Frankfurt was jointly organised by Deutsch-Asiatischer Wirtschaftskreis e.V. (the German Asian Business Circle) and the Sri Lanka Consulate General in Frankfurt, under the guidance of Consul General of Sri Lanka in Frankfurt Pradip Jayewardene. Sri Lankan Minister for Environment and Renewable Energies Susil Premajayantha took part in the event as the Guest of Honour at the Villa Giersch, Frankfurt am Main Frankfurt.

‘The Environment Forum Sri Lanka’ is the first event of this type in Germany and is a precursor to the forthcoming German business and investor delegation to Sri Lanka (organised by DAW) scheduled for September 2013. The forthcoming delegation was initially announced by DAW German-Asian Business Circle immediate past President R.A. Ekkehard Stein, on 25 February, during the 2013 DAW Asia Pacific Forum at Maritim Hotel in Frankfurt, where Minister of Industry and Commerce Rishad Bathiudeen represented Sri Lanka.

The 27 May Environment Forum in Frankfurt focused on projects initiated by the Government in the environmental sector. During the event, Minister Premajayantha was inundated with queries on Sri Lanka’s renewable energy sector and environment. Premajayantha directly interacted with keen German investors often one-to-one- during the session. Among the well-known German firms present at the session were Eurec Technology GmbH (in recycling and construction sectors), Gesellschaft fur Innovative Energieprojekte GmbH (in innovative energy projects), GITECH Consult GmbH (in engineering projects), Grasshopper Investments (in Solar Energy sector), and Indogerma Trans Global GmbH.

Consul General Sri Lanka Consulate General in Frankfurt Pradip Jayewardene, detailing his experience of bringing Global energy giant Shell to Sri Lanka, revealed the ingredients for a successful international venture in Sri Lanka. Jayewardene said: “The first key factor was the ability for 100% ownership. Being a giant oil company, Shell was very particular about who it could partner with. The approval process was so stringent that to bring anyone else even as a minority stake would be nearly impossible. Secondly the company had no doubt about the security of their investment or that they could repatriate profit.”

He further said that, “They were aware that we had a transparent legal and regulatory framework. Third, the incentives being offered were attractive and speed at which approvals could be obtained was of great advantage. Fourth, the speed of setting up the operation was much faster than a similar operation being set up in neighbouring countries.

“In fact we set up of 16 service centres with logistical support, communications and trained and deployed over 200 salesmen and technicians within six months. This meant that we had more time for business development. Fifth, the expat managers stationed to overlook this business were happy to live in Sri Lanka together with their families. The quality of life was much better than what was available to them elsewhere in the region.”