India, Lanka working on USD 100 mn credit line solar power

• The multi-pronged project envisages enhancement of solar power usage in government buildings and low-income households through the installation of rooftop units and commissioning of floating solar power plants in Sri Lanka

Sri Lanka and India are currently working on a US $ 100 million credit line by India in the solar power sector a statement from the Indian High Commission said.

“This multi-pronged project envisages enhancement of solar power usage in government buildings and low-income households through the installation of rooftop units and commissioning of floating solar power plants in Sri Lanka,” it said.

Sri Lanka is a founding member of the International Solar Alliance which was anchored by India. Recently inaugurated 100 MW wind power project in Mannar involved the participation of technical experts from India. Geographies of the two countries offer bright prospects for a deeper partnership in the fields of solar and wind energy.

The statement said:

The statement said Indian Prime Minister Narendra Modi inaugurated the world’s largest and first of its kind renewable energy park comprising both wind and solar energy with a total capacity of 30 GW at Kutch in Gujarat on December 15, 2020.

Around 72,600 hectares of wasteland was transformed and put to use in building the hybrid energy park. Upon completion, the energy park will contribute towards the reduction of CO2 emissions up to 50 million tons per year. This is equivalent to the planting of 90 million trees.

“India has set ambitious goals to effectively combat climate change and increase the proportion of renewable energy in India’s energy mix. 

The hybrid plant takes India closer to its target of 175 GW of renewable energy by 2022. Adopting a low-carbon and climate-resilient development approach, India endeavours to generate 450 GW of renewable energy by 2030. Collaboration in renewable and sustainable energy is a focus area for Governments of India and Sri Lanka. 
Following these shared priorities, both sides are currently working on a USD 100 million credit line by India in the solar power sector. This multi-pronged project envisages enhancement of solar power usage in government buildings and low-income households through the installation of rooftop units and commissioning of floating solar power plant(s) in Sri Lanka, “the statement said.