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The Government of Sri Lanka has entered into a loan agreement worth of USD 50 million with the Asian Development Bank to finance the Rooftop Solar Power Generation Project. 


The main objective of this project is to support government’s “Battle for Solar Power Programme” to achieve the target of 200 MW by 2020 and 1000 MW by 2025 through solar power generation. Clean and sustainable power generation will be enhanced through the proposed project by increasing debt facilities and funding for the rooftop solar power generation, developing solar rooftop market infrastructure and bankable subproject pipeline. It is expected to add 50 MW to the national grid under this project. 


The Department of Development Finance of the Ministry of Finance and Mass Media which is the Implementing Agency of the project, will coordinate with the selected financial institutions to provide credit facilities to the customers to purchase Rooftop solar panels from reliable suppliers who registered under the Sustainable Energy Authority. The Ceylon Electricity Board (CEB) and Lanka Electricity Company Ltd (LECO) will support the project implementation by providing technical recommendations to the Financial Institutions regarding technical proposals of the applicants (customers) and reviewing and approving applications for connection of solar rooftop systems to the distribution network and confirming quality of generated power. In addition, customers will be benefited financially through one of the system among net metering, net accounting or net plus as a result of connecting solar electricity generated by this project to the national grid. 


The total investment cost of this project is USD 59.8 million of which USD 50 million will be provided by ADB. Equity contribution by customers for the subprojects will be USD 9.8 million. 
In this connection, Dr. R H S Samaratunga, Secretary of the Ministry of Finance and Mass Media on behalf of the Government of Sri Lanka and Ms. Sri Widowati, Country Director of ADB Sri Lanka Resident Mission on behalf of ADB, signed a Loan Agreement on 18th September 2018 at the Ministry of Finance and Mass Media. 

 

 

 

 

 

 

 

 

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