Teejay Sri Lanka energy transition: rooftop solar and biomass cut emissions 49% by 2026

Sri Lankan textile manufacturer Teejay is investing USD 5.2 million in rooftop solar and certified biomass to cut facility emissions by 49% and hit its SBTi target years ahead of schedule. The 7.2 MW solar array covers 50,000 square meters of factory roof but faces a 10-11 year payback due to low solar yield in the region. The biomass boiler switch from imported coal to locally sourced SLSI-certified fuel is expected to reduce fuel costs by 25-30% while cutting Scope 1 and 2 emissions. Grid connection for the solar system is expected by September 2026. The company also published its first IFRS S1 and S2 disclosures this year, with ISO 14064 verified numbers in its annual report. Scope 3 remains the next big challenge.