The Sunday Leader

India announces financing for solar projects in Sri Lanka

India has announced US$ 100 million concessional financing for solar projects in Sri Lanka, the Indian High Commission in Colombo said on Monday.

President of Sri Lanka Maithripala Sirisena visited New Delhi from 10-11 March 2018 to attend the Founding Conference of the International Solar Alliance.

The Founding Conference was co-chaired by Prime Minister of India Narendra Modi and President of France Emmanuel Macron. President Sirisena called on President of India Ram Nath Kovind and Prime Minister of India Narendra Modi on the sidelines of the Conference.

He also attended the Presidential banquet hosted in Rashtrapati Bhawan on 10 March and lunch hosted by the Prime Minister on 11 March for the delegates.

The ISA Founding Conference brought together delegations from 46 countries all over the globe including Heads of State and Government from 21 countries. Several UN representatives, leaders of Multilateral Development Banks, business leaders in renewable energy, members of civil society and think tanks also attended the Conference. Delhi Solar agenda was released at the Conference.

Solar projects worth nearly US$ 1.4 billion in 15 countries were announced at the Conference under Government of India concessional financing. An Indian Line of Credit for US $ 100 million was announced for undertaking solar projects in Sri Lanka, which includes development of 200, 000 rooftop solar units for low income families (for US$ 50 million) and setting up of rooftop solar in Government schools and colleges, hospitals and other Government establishments in Sri Lanka (for US $ 50 million).

ISA has been described by Prime Minister of India as the single most important global achievement after the Paris Accord on Climate Change. The first General Assembly of the ISA is expected to be held on the sidelines of the second edition of the Renewable Energy Global Investors Meet and Expo, in short REINVEST to be organized by the Ministry of New and Renewable Energy of India in April 2018.

India has offered to meet ISA Secretariat expenses for initial five years. The Government of India has allotted five acres of land to ISA, a nice campus in Gurugram, Haryana and released a sum of US$ 20 million for creating a corpus fund, building infrastructure and meeting day to day recurring expenditure.

President Maithripala Sirisena attended the launch of ISA at the COP-21 in Paris on 30 November 2015. The ISA was launched by Prime Minister Narendra Modi & the then President of France Francois Hollande.

The ISA is conceived as a coalition of 121 solar resource rich countries (lying fully or partially between the Tropics of Cancer and Capricorn) to address their energy needs, through a common platform for collaboration, for achieving speed, scale and skills for deploying available solar technologies; facilitating strategic and collaborative solar R&D; and lowering the cost of finance for solar projects and capacity building.

62 Countries have joined ISA so far, out of which 32 countries have signed and ratified ISA Framework Agreement. Sri Lanka became a full-fledged member of ISA on 12 February 2018. (Colombo Gazette)

2 Comments for “India announces financing for solar projects in Sri Lanka”

  1. Eng.M.V.R.Perera

    Why does not the Indian Prime Minister does test his own Solar panels in Indian conditions to ensure that the light transducer with a average efficiency of 12% has been increased by Indian Engineers before selling it to our gullible Sri Lankan President he is so gullible to please the west he made a declaration about climate change he did this twice one of them recently when our per capita carbon emissions were one of the lowest in the world of 0.67 while I wish to state per capita carbon emission of 0.61 metric tons per year is very low compare it with Malaysia a developing Country (6.7) and the US a developed Country (19.78), is 10 times and 30 times more respectively Singapore 31.41 the carbon emission statics which can be down loaded from the internet shows that they had about 10 times the carbon emissions in 1992 and as they became rich by increase carbon emissions they have reduced the carbon emissions and as such why not Sri Lanka if parliamentarian like Dr Ammunugama studied it he would realize the colossal loss to we the people and our country by our President’s action as such there should not be any concern regarding carbon emissions these are supported by the per capita carbon emission per year statistics

    from the internet .and also it can be stated from the data from internet it can be computed that even if we have 10 coal power stations the size of Norochoholai producing a total of 70 billion units per year, our per capita carbon emission per year will not exceed 70×109/21×106= 3040 Kg=3.04 metric tons assuming a population of 21 million and 1000Kg= a metric ton, as such there is no threat of carbon emission to our country by planning for accelerated coal power projects as many as required for our country. The President’s statement contravenes article 3,4,12, 27 and 33 (f) of our constitution and as such direct foreign investors are avoiding us like a plague and also his reliance on solar power can be established has the biggest fraud committed in our country’s history which also has destabilized our country’s economy.

    • Kumar

      Whoa, Whoa! Mr. Perera can you use some simple language. In the US we call your language BS. It appears that China has cornered the solar panel market. Then I wonder which part of Sri Lanka you reside in because if you were in the northern part of the country you can smell pollution from the monster in NW coast belching out tons of pollution. I suggest travel along Kandy road and smell all the pollution. I wonder what happened to that Tilak Siyabalapity who vehemently oppose solar panel. I suggest you step out and smell the pollution,

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