Sri Lanka : Rooftop Solar Power Generation Project-Additional Financing
The government of Sri Lanka requested from the Asian Development Bank (ADB), via letter dated 20 July 2021, for additional financing of $50.0 million from ordinary capital resources (OCR). The proposed additional financing will enable the government to expand the success of ongoing Rooftop Solar Power Generation Project.
ADB approved the Rooftop Solar Power Generation Project with $50.0 million loan from ADB's OCR on 26 September 2017. The loan agreement was signed on 18 September 2018 and became effective on 25 September 2018. The loan closing date is 30 June 2022. The Ministry of Finance (MOF) is the executing agency and the Department of Development Finance (DDF) of MOF is the implementing agency.
Project Details
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Project Officer
Kolantharaj, Jaimes
South Asia Department
Request for information -
Country/Economy
Sri Lanka -
Sector
- Energy
| Project Name | Rooftop Solar Power Generation Project-Additional Financing | ||||
| Project Number | 50373-003 | ||||
| Country / Economy | Sri Lanka |
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| Project Status | Proposed | ||||
| Project Type / Modality of Assistance | Loan Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth |
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| Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector | Energy / Renewable energy generation - solar |
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| Gender Equity and Mainstreaming | Some gender elements | ||||
| Description | The government of Sri Lanka requested from the Asian Development Bank (ADB), via letter dated 20 July 2021, for additional financing of $50.0 million from ordinary capital resources (OCR). The proposed additional financing will enable the government to expand the success of ongoing Rooftop Solar Power Generation Project. ADB approved the Rooftop Solar Power Generation Project with $50.0 million loan from ADB's OCR on 26 September 2017. The loan agreement was signed on 18 September 2018 and became effective on 25 September 2018. The loan closing date is 30 June 2022. The Ministry of Finance (MOF) is the executing agency and the Department of Development Finance (DDF) of MOF is the implementing agency. The project is aligned with the following impact: access to clean and reliable power supply in Sri Lanka increased by 2025. The project will have the following outcome: clean power generation enhanced. The project has three outputs: (i) debt funding for rooftop solar power generation increased, (ii) rooftop solar market infrastructure and bankable subproject pipeline developed, and (iii) capacity and awareness of stakeholders, including the MOF, and participating financial institutions, and commercial and domestic sector customers increased. |
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| Project Rationale and Linkage to Country/Regional Strategy | The project contributes to the government's program of increasing clean power generation from solar energy, particularly with the achievement of rooftop solar capacity target of 200 megawatts (MW) by 2020 and 1,000 MW by 2025. The project is expected to support installation of at least 50 MW capacity of rooftop solar systems by 2022. The project supports the government's key development priority in the energy sector to diversify the existing energy generation mix to include more indigenous renewable energy resources. The project is consistent with ADB's country partnership strategy for Sri Lanka, 2018 2022 that prioritizes assistance to renewable energy development. | ||||
| Impact | Impact of the Project is Aligned with Current project Access to clean and reliable power supply in Sri Lanka increased by 2025 (Sri Lanka Energy Sector Development Plan for a Knowledge-Based Economy, 2015 2025) |
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| Outcome | |||||
| Outputs | Rooftop solar market infrastructure and bankable subproject pipeline developed Capacity and awareness of stakeholders, including the MOFMM, PFIs and commercial and domestic sector customers increased |
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| Geographical Location | Nation-wide | ||||
| Safeguard Categories | |
|---|---|
| Environment | C |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Business Opportunities | |
|---|---|
| Consulting Services | not applicable |
| Procurement | not applicable |
| Responsible ADB Officer | Kolantharaj, Jaimes |
| Responsible ADB Department | South Asia Department |
| Responsible ADB Division | Energy Division, SARD |
| Executing Agencies |
Ministry of Finance The Secretariat Building Colombo 01 Sri Lanka |
| Timetable | |
|---|---|
| Concept Clearance | 15 Dec 2021 |
| Fact Finding | 25 Aug 2022 to 25 Aug 2022 |
| MRM | 20 Oct 2022 |
| Approval | - |
| Last Review Mission | - |
| Last PDS Update | 16 Dec 2021 |
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