Loan scheme for rooftop solar power generation systems

The Government plans to launch a loan scheme to promote solar energy, aiming at converting every housing unit to a solar unit under its ‘Sooryabala Sangrama Program’.

The loan scheme will be operated for supporting the Sooryabala Sangrama Program, implemented with the objective of supplying 200 MW by the year 2020 and 1,000 MW by the year 2025 to the national grid through the installation of solar power generation systems in every household and commercial and factory buildings.

Under this program, the consumers will have options to generate and use electricity in their premises. In case of electricity in excess of their requirements, they can sell the excess to the national grid or bank it for later use.

Accordingly, the proposal made by Minister of Finance and Mass Media Mangala Samaraweera to secure the necessary funds for the implementation of this project and to enter into sub-loan agreements with the participating financial institutions was approved by the Cabinet. (Colombopage)