Eligibility Criteria for Rooftop Installations (Subprojects) to qualify under the Credit Line
The following sub-projects are eligible under the Project.
- Residential rooftop: solar PV system installed on an existing permanent residential building rooftop
- Commercial-scale rooftop: solar PV systems installed on an existing permanent commercial-scale building rooftop
Capacity limitations under the Project are as follows.
- Maximum solar power generation capacity installed on rooftop shall not exceed 50 kW
- Single customer may apply for multiple subprojects subject to a maximum cumulative capacity of 50 kW. This means customers can obtain funding for more than one subproject as long as the total installed capacity of all the subprojects combined does not exceed 50 kW.
ADB funding for subprojects are available as detailed below.
- Upto 100% of the subproject cost for residential rooftop installations where the cost does not exceed LKR 1.5 million
- Upto 80% of the subproject cost for, residential installations where the cost exceeds LKR 1.5 million and all commercial rooftop subprojects
Tenor of the sub-loan shall be subject to the following
- Repayment period shall not exceed 10 years
- Both residential and commercial rooftop subprojects may have a grace period not exceeding 6 months within the repayment period of 10 years
Customer (beneficiary) should be the owner of the permanent residential/commercial-scale building proposed to be used to install the solar PV system