Sri Lanka, June 1 -- In a major boost to Sri Lanka's energy sector, the country is expected to save an estimated US$ 2.6 million in foreign exchange each month following the arrival of its first advanced Battery Energy Storage Systems (BESS).

The state-of-the-art technology is expected to significantly reduce the country's reliance on costly fuel-based power generation while delivering substantial economic benefits to consumers. Electricity generated using fuel currently costs around Rs.115 per unit, compared to around Rs.30 per unit through BESS-supported energy storage. By improving grid stability and maximising the use of lower-cost renewable energy, authorities aim to reduce electricity costs and pass the resulting savings on to cons...