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Canada’s Total Climate Finance Contribution:
$7,500,000 CAD
- 2010 to 2011: $7,500,000 CAD
Targeted Countries:
Sri Lanka
Funding Period: 2010 to 2011
Type of Support:
Mitigation
Project Funded through a Canadian Facility:
IFC - Canada Climate Change Program (CCCP)
Delivery Partner(s):
Description
The IFC-Canada Climate Change Program provided support for the installation of rooftop solar photovoltaic (PV) panels and the implementation of green building measures on a chain of 18 supermarkets in Sri Lanka. This is a first of its kind commercial implementation of rooftop solar PV grid-connected project under the country’s net metering scheme and the first solar PV and green buildings project in the retail sector.
Results/Expected Outcomes
The completion of the plant is expected to improve the availability of better quality food products at low prices in underserved markets, contribute to private sector development in the retail industry and create direct and indirect employment opportunities. The project is also expected to demonstrate the financial feasibility of rooftop solar PV for commercial enterprises in Sri Lanka, reducing the risk perception of such investments. With support from Canada, this project is expected to mobilize an additional $12.2 million in co-financing from public and private sources and lead to an estimated greenhouse gas emissions reduction of 2,300 metric tons of CO2 per year.*
Co-Financing/Mobilized Finance ($CAD):
$12,200,000
Estimated GHG (metric tons of CO₂) Reduction Associated with Project (per year)Disclaimer *:
2,300