Oct 19, Colombo: The government plans to launch a loan scheme to promote solar energy aiming at converting every housing unit as a solar unit under the 'Sooryabala Sangrama Program' of the government.
The loan scheme will be operated for supporting the 'Sooryabala Sangrama Program' implemented with the objective of supplying 200MW by the year 2020 and 1000 MW by the year 2025 to the national grid through the installation of the Solar Power generation systems on 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.
As such, it has been proposed to provide financial assistance under this program for the installation of Solar Power generation in households and commercial and factory buildings.
Accordingly, the proposal made by Mangala Samaraweera, the Minister of Finance and Mass Media, to secure the necessary funds for the implementation of this project and to enter into sub loan agreements with the participatory financial institutions, was approved by the Cabinet.