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India Offers $100 Million Line of Credit To Sri Lanka For Solar Projects

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India Offers $100 Million Line of Credit To Sri Lanka For Solar Projects

Colombo:

India has provided a Line of Credit price $ 100 million to Sri Lanka for 3 photo voltaic initiatives within the nation, in line with an official assertion.

India’s High Commissioner to Sri Lanka Gopal Baglay referred to as on Minister of Power Dullas Alahapperuma and reiterated India’s dedication in the direction of a robust and multi-faceted bilateral partnership together with within the energy sector, the Indian mission mentioned in a press release.

They mentioned varied points of mutual curiosity together with methods to expedite progress on bilateral energy initiatives at present below dialogue between the 2 sides.

The Indian envoy additionally handed over a duplicate of a letter conveying a proposal from India to Sri Lanka for a Line of Credit (LoC) price $100 million for 3 photo voltaic initiatives introduced through the International Solar Alliance Founding Conference held in March, 2018 in New Delhi, the assertion mentioned.

The LoC will cowl financing for rooftop photo voltaic programs meant for 20,000 households and 1,000 authorities buildings all throughout the island. The mixed era capability of these rooftop programs can be about 60 MW, it mentioned.

The LoC will even present financing for a floating solar energy plant. The implementation of the LoC will start with the conclusion of an LoC settlement between the 2 sides, it mentioned.

The Indian High Commissioner conveyed that the $100 million LoC is in keeping with the nationwide priorities of India and Sri Lanka to boost the share of photo voltaic and renewable vitality in general vitality era, the assertion added.



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