5
Thursday
August 2021
4:50 AM IST
News Headlines
Bajaj Auto July sales jumps 44 pc in Jul        Pegasus issue: SC to hear on Aug 5 pleas seeking probe into snooping allegations        Dutee finishes last in her 200m heat race, fails to qualify for semifinals at Olympics        Pakistan reports spike in new COVID-19 cases        Mexico's referendum on trying ex-presidents falls short        Berlin protesters decry coronavirus measures; 600 detained        Brave Indian women create history, enter maiden Olympic hockey semifinals        Tokyo Olympics: Badminton star P V Sindhu scripts history on Super Sunday        India beat South Africa 4-3 to keep QF hopes alive in Olympic women's hockey        World No.1 Panghal's Olympic campaign ends with shocking loss to Colombian Martinez        COVID-19: India records 41,649 fresh cases, 593 more fatalities        TREMOR        Das knocks out Olympic champion in Tokyo, joins wife Deepika in last-16        Air India sold its 115 properties for Rs 738 crore since 2015: Govt        Researchers Develop Variants Of More Potent, Stable Nanobodies To Fight SARS-CoV-2        Assam, Mizoram trade barbs over deployment of security forces at interstate border        HC rejects plea to reassess minority status of Christians, Muslims in Kerala        Govt hiding on Pegasus issue, responsible for Parliament logjam: Congress        True legend of Indian badminton: tributes pour in after legendary Nandu Natekar dies        Tendulkar helps farmer's daughter to pursue dream of becoming doctor        
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
Business News
India extends USD 100 million Line of Credit to Sri Lanka for solar energy projects
 
Colombo, Jun 17 (PTI) India has extended a USD 100 million Line of Credit to Sri Lanka to help the island nation finance various projects in the solar energy sector and ensure that the country's 70 per cent power requirements are fulfilled by renewable energy sources by 2030.



An agreement signed between the Sri Lankan government and the Export-Import Bank of India was exchanged by High Commissioner of India to Sri Lanka Gopal Baglay and Secretary to the Treasury S R Attygalle in the presence of Sri Lankan President Gotabaya Rajapaksa on Wednesday.

"A glorious new chapter in the multi-faceted partnership between India and SriLanka! An agreement extending US$ 100 million Line of Credit to #lka for solar energy projects was exchanged today in the presence of Hon'ble President H E @GotabayaR @MFA_SriLanka @PresRajapaksa, Indian High Commission in Sri Lanka said in a tweet.

This USD 100 million LOC will help finance various projects in the solar energy sector in Sri Lanka, including those announced during the Founding Conference of the International Solar Alliance (ISA) held in March 2018, such as rooftop solar photo-voltaic systems for households and government buildings, the High Commission said in a statement.

President Rajapaksa and the High Commissioner of India discussed the striking similarity in the national objectives outlined by India and Sri Lanka in connection with solar energy, it said.

India becomes the first country to partner with Sri Lanka in fulfilling the vision of the President of Sri Lanka to ensure that 70 per cent of Sri Lanka's national power requirements are fulfilled by renewable energy sources by 2030, as reiterated during his address at the recently concluded Sri Lanka Investment Forum," the statement said.

A total of 89 countries, including Sri Lanka, have signed the Framework Agreement of the ISA, which was jointly launched by Prime Minister Narendra Modi and former French president Francois Hollande to bring together countries to promote large-scale deployment of solar energy and overcome challenges related to technology, finance and capacity.

The shared vision of our countries in the renewable energy sector reflects our common national priorities and convergence of approaches for sustainable development. Strengthening collaboration in this vital sector will help enhance our overall energy partnership and contribute towards our global efforts to tackle climate change and reduce emissions, the statement said.

Over the past 7 years, solar power generation in India has increased significantly to reach 34.6 GW in 2021 from about 2.6GW in March 2014. The National Solar Mission of India aims to increase it further to 100 GW and beyond.

Later, President Rajapaksa said in a statement, "Sri Lanka is going green, and we are working extensively to make it happen. Today, we formalised the agreement on the Line of Credit worth USD 100M b/w Sri Lanka and the Export & Import Bank of India. Steadily, we're getting closer to the goal of 70 per cent renewable energy by 2030".

This would facilitate measures that have been taken to increase the contribution of renewable energy sources to the national power grid, officials here said.

A key plan of the government is to generate solar power by obtaining the contribution of state-owned buildings, places of worship and houses of low-income families.

Steps will also be taken to provide facilities to store solar energy in batteries for the low-income families that are unable to access the national power grid.


Bajaj Auto July sales jumps 44 pc in Jul
Air India sold its 115 properties for Rs 738 crore since 2015: Govt
Rolex Rings IPO fully subscribed within hours of opening
Tata Motors plans to hike passenger vehicle prices from next week
Asian stocks mixed, Tokyo gains after Wall Street highs
Reliance to start gas production from MJ field in Oct-Dec 2022
RBI central board short of 9 non-official directors
Sensex drops over 100 pts in early trade; Nifty slips below 15,800
Asian markets mixed after modest gains on Wall St
Byju's acquires Epic for USD 500 mn
Excise duty rates on petrol, diesel calibrated to generate resources for infra development: FinMin
6.66 lakh direct, indirect jobs generated by 22 operational mega food parks: Govt
L&T construction arm bags orders in overseas, domestic market
Spinny raises USD 108 mn in funding led by Tiger Global, Avenir Growth
Globus Infocom expects to grow business by 70% to Rs 350 cr by FY22
UN appeals for $850 million to help war-torn Afghanistan
Rupee inches 3 paise higher to 74.51 against US dollar in early trade
Maruti lines up Rs 18,000 cr investment for new manufacturing plant in Haryana
Zomato IPO subscribed 36% in early hours, investors across segments bid
Tiger Shroff - Now the face and brand ambassador for GreatWhite Global Pvt.Ltd.
KERALA NEWS
HC rejects plea to reassess minority status of Christians, Muslims in Kerala
 Kochi: The Kerala High Court on Thursday said merely because there are a few rich people among the m  
COVID-19: Over 4.5L vaccinations on Saturday, more than 16 lakh jabs this week in Kerala
Curbs tightened in Kerala following increase in COVID TPR
UDF walks out of Kerala Assembly over allegations against Forest Minister
INTERNATIONAL NEWS
Pakistan reports spike in new COVID-19 cases
 Islamabad, Aug 1 (PTI) Pakistan reported 5,026 new coronavirus cases on Sunday, its highest daily-ca
Mexico's referendum on trying ex-presidents falls short
Berlin protesters decry coronavirus measures; 600 detained
Researchers Develop Variants Of More Potent, Stable Nanobodies To Fight SARS-CoV-2
NATIONAL NEWS
Pegasus issue: SC to hear on Aug 5 pleas seeking probe into snooping allegations
 New Delhi, Aug 1 (PTI) The Supreme Court is scheduled to hear on August 5 the pleas, including the o
Assam, Mizoram trade barbs over deployment of security forces at interstate border
48% parents not willing to send their kids to schools till they get Covid vaccines: Survey
Will depend on situation, no problem if someone else leads: Mamata Banerjee on being face of Oppn
Untitled Page
Rashtra Deepika LTD
Copyright @ 2021 , Rashtra Deepika Ltd.