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He paid tribute to the outgoing President Thusitha and the executive committee for their "exemplary leadership" through three consecutive and challenging terms marked by the pandemic and post-crisis policy transitions.

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Poddiwala acknowledged that the renewable energy industry is facing an unprecedented set of challenges, describing the current period as "turbulent weather" for small hydro power developers.

He pointed to several key issues, including the enforcement of the new Electricity Act, the restructuring and unbundling of the national utility, unconsented curtailments of power generation, termination of power purchase agreements (PPAs) for ongoing projects, and financially constrained tariff structures that have undermined project bankability.

"These are challenges we are experiencing for the first time in our history. We must think afresh and set our strategies to face a new era. Despite the difficulties, what strengthens our resolve is the fact that renewable energy remains the cheapest and most sustainable source of power both locally and globally," he noted.