India has offered Line of Credit worth $100 million for three solar projects in Sri Lanka. Indian High Commissioner to Sri Lanka Gopal Baglay called on Minister of Power, Dullas Alahapperuma and reiterated India’s commitment towards a strong and multi faceted bilateral partnership in the power sector. Discussing various issues including ways to expedite progress on bilateral power projects currently under discussion. Indian envoy also handed over a copy of a letter conveying an offer from India to Sri Lanka for a Line of Credit (LoC) worth $100 million for three solar projects announced during the ISA Founding Conference held in March, 2018 in New Delhi.
The LoC will cover financing for rooftop solar systems meant for 20,000 households and 1,000 government buildings all across Sri Lanka with combined generation capacity of about 60 MW. It will also provide financing for a floating solar power plant. The implementation of the LoC will begin with the conclusion of an LoC agreement between the two sides. Indian high commissioner conveyed that the $100 million LoC is in line with the national priorities of India and Sri Lanka to enhance the share of solar and renewable energy in overall energy generation.
