India offers Sri Lanka $ 100 m for three solar power projects

India has offered Sri Lanka a Line of Credit worth $ 100 million for three solar projects, the Indian High Commission in Colombo said in a release.

High Commissioner of India to Sri Lanka Gopal Baglay handed over a copy of a letter conveying the offer to Sri Lanka’s Minister of Power Dullas Alahapperuma, when he called on the Minister on Wednesday.

The High Commissioner congratulated the Minister on assuming office and reiterated India’s commitment towards a strong and multi-faceted partnership with Sri Lanka including in the power sector. They discussed various issues of mutual interest, including ways to expedite progress on bilateral power projects currently under discussion between the two sides, the High Commission said in a release.

High Commissioner Baglay also handed over a copy of a letter conveying an offer from India to Sri Lanka for a Line of Credit worth $ 100 million for three solar projects, announced during the International Solar Alliance Founding Conference held in March 2018 in New Delhi.

This LoC will cover financing for rooftop solar systems meant for 20,000 households and 1,000 government buildings all across the island. The combined generation capacity of these rooftop systems will be about 60 MW.

The LoC 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.

High Commissioner Baglay 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.