Original disclosure @ ADB website
Updated in EWS Jul 20, 2020
Disclosed by Bank Sep 27, 2017
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To increase solar power generation and speed up implementation of the Battle for Solar Energy program, the Government of Sri Lanka requested ADB to provide a credit line that would enable institutional and domestic customers to finance installation of solar rooftop PV generation facilities. Technical and commercial frameworks will be improved to encourage the development of solar renewable resources that would add value in developing solar rooftop installations. The credit line will provide the required financing with preferential terms that will stimulate solar rooftop generation development. As part of the project, technical guidelines and standards for solar rooftop systems will be established.
The outputs of the project include: (i) debt funding for the solar rooftop power generation increased, (ii) solar rooftop market infrastructure and bankable subproject pipeline developed; and (iii) capacity and awareness of stakeholders, including the Central Bank of Sri Lanka, participating financial institutions (PFIs), commercial and domestic sector customers, increased.
These outputs will result in the following outcome: clean, sustainable power generation enhanced. The project will be aligned with the following impact: access to clean and reliable power supply in Sri Lanka enhanced by 2020 (Sri Lanka Energy Sector Development Plan for a Knowledge Based Economy 2015 2025).
Government US$ 9.80 million
Asian Clean Energy Fund under the Clean Energy Financing Partnership Facility US$ 1.00 million
South Asia Department, ADB
Ministry of Finance
Ministry of Power and Renewable Energy
72 Ananada Kumaraswamy Mawatha
Colombo 07, Sri Lanka
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main