Rooftop solar power generation project of the government of Sri Lanka

Project

The “Rooftop Solar PV Power Generation Project” provides electricity consumers with long-term debt financing for installation of rooftop solar photovoltaic power generation systems in Sri Lanka. 

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Eligibility

Eligibility Criteria for Rooftop Installations (Subprojects) to qualify under the Credit Line
The following sub-projects are eligible under the Project.

  • Residential rooftop: Solar PV systems installed on an existing permeant Residential building rooftop.
  • Commercial-scale rooftop: Solar pv Systems installed on an existing permanent commercial –scale building rooftop.

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Loan Approval Process

Individual and Enterprises interested in installing solar power systems on their rooftops can approach any branch of a participating bank under the ADB line of credit.

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1. PROJECT.

The “Rooftop Solar PV Power Generation Project” provides electricity consumers with long-term debt financing for installation of rooftop solar photovoltaic power generation systems in Sri Lanka. The credit line of US $ 50 million established by the Government of Sri Lanka (GOSL) through a loan from the Asian Development Bank (ADB) provides the required financing on preferential terms. As part of the project, technical and commercial frameworks are introduced including technical guidelines and standards for solar rooftop systems that would add value in developing solar rooftop installations. The credit line is managed by the Ministry of Finance (MOF) and funds are channeled to the beneficiaries through selected Banks (Participating Financial Institutions -PFI). The technical support is provided by the Project Implementation Unit (PIU) in close collaboration with MOF, Ministry of Power, Energy and Business Development(MOPE) and Sri Lanka Sustainable Energy Authority (SLSEA).


Power generated through the Rooftop Solar PV Installations can be integrated with the National grid through the Utility Providers in Sri Lanka, namely Ceylon Electricity Board and Lanka Electricity Company Private Limited under the following three schemes.

 

2. ELIGIBILITY

Eligibility Criteria for Rooftop Installations (Subprojects) to qualify under the Credit Line

The following sub-projects are eligible under the Project.

  • Residential rooftop: solar PV system installed on an existing permanent residential building rooftop
  • Commercial-scale rooftop: solar PV systems installed on an existing permanent commercial-scale building rooftop

Capacity limitations under the Project are as follows.

  • Maximum solar power generation capacity installed on rooftop shall not exceed 50 kW
  • Single customer may apply for multiple subprojects subject to a maximum cumulative capacity of 50 kW. This means customers can obtain funding for more than one subproject as long as the total installed capacity of all the subprojects combined does not exceed 50 kW.

ADB funding for subprojects are available as detailed below.

  • Upto 100% of the subproject cost for residential rooftop installations where the cost does not exceed LKR 1.5 million
  • Upto 80% of the subproject cost for, residential installations where the cost exceeds LKR 1.5 million and all commercial rooftop subprojects

Tenor of the sub-loan shall be subject to the following

  • Repayment period shall not exceed 10 years
  • Both residential and commercial rooftop subprojects may have a grace period not exceeding 6 months within the repayment period of 10 years
    Customer (beneficiary) should be the owner of the permanent residential/commercial-scale building proposed to be used to install the solar PV system

 

3. LOAN APPROVAL PROCESS

 

 

 

Contact Us for More Information

Hotline: 0112 786 786

Rasanga: 0770 123 467

 

 

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