India Presents $100 Million Line of Credit score To Sri Lanka For Photo voltaic Tasks

Colombo:

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

India’s Excessive Commissioner to Sri Lanka Gopal Baglay referred to as on Minister of Energy Dullas Alahapperuma and reiterated India’s dedication in the direction of a powerful and multi-faceted bilateral partnership together with within the energy sector, the Indian mission mentioned in an announcement.

They mentioned numerous problems with 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 replica of a letter conveying a suggestion from India to Sri Lanka for a Line of Credit score (LoC) value $100 million for 3 photo voltaic initiatives introduced through the Worldwide Photo voltaic Alliance Founding Convention 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 technology capability of those rooftop programs will likely be about 60 MW, it mentioned.

The LoC can 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 Excessive Commissioner conveyed that the $100 million LoC is according to the nationwide priorities of India and Sri Lanka to boost the share of photo voltaic and renewable vitality in total vitality technology, the assertion added.