Rooftop Solar Power Generation Project (ADB-50373-002)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 26, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Sri Lanka
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 60.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 26, 2017

Disclosed by Bank Sep 27, 2017


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Project Description
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).
Investment Description
  • Asian Development Bank (ADB)
Government US$ 9.80 million Asian Clean Energy Fund under the Clean Energy Financing Partnership Facility US$ 1.00 million
Contact Information
Project Officer Khamudkhanov, Mukhtor South Asia Department, ADB Ministry of Finance Treasury Building Colombo-01 Sri Lanka 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