ECONOMYNEXT – Proparco, the personal sector arm of the French official lending company, Agence Française de Développement (AFD) is all in favour of taking a look at financing Sri Lanka’s grid scale battery vitality storage programs, opened for personal buyers, a high official mentioned.
“We might have an interest to take a look at it,” Djalal Khimdjee, Deputy Chief Govt of Proparco advised reporters in Paris.
“We’ve got financed just lately some renewable tasks with these sorts of batteries, be it in Asia, in Africa, or in Latin America. So, we will have a look at it.
“Clearly, we are going to then have a look at the totally different dimensions of the undertaking with the off-taker, the capability of the off-taker to purchase the electrical energy merchandise, and so forth., however sure, positively.”
Proparco has helped finance personal BESS tasks in Uzbekistan, Africa, Cambodia and Indonesia, he mentioned.
Sri Lanka’s archaic grid wants giant scale funding to accommodate extra renewable vitality and battery vitality programs are one of many options that may be deployed with cheap velocity to enhance grid stability.
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Proparco France prepared to take a look at financing Sri Lanka companies as default ends
Proparco has an workplace in New Delhi to cowl South Asia.
Sri Lanka just lately suffered cascading failure as a result of so-called ‘Sunny Sunday impact’ because of a big quantity of rooftop solar energy coming into the grid in a vacation when total demand was low.
Sri Lanka can also be increasing bigger floor mounted photo voltaic and wind crops, more and more with ramping, to stabilize output.
State-run Ceylon Electrical energy Board referred to as presents for the primary battery vitality system just lately, the place buyers are anticipated to arrange a construct function personal BESS on a 15-year concession.
The deadline to submit bids, initially set at September 10 has been prolonged to October 15.
Potential buyers all in favour of Proparco financing should join with the company. It has an workplace in New Delhi.
Proparco is 85 p.c owned by the French improvement finance establishment Agence Française de Développement (AFD) and a bunch of personal and multilateral lenders.
https://www.proparco.fr/en/ressources/proparco-sa-shareholding-composition
The establishment funds personal companies with the targets of serving to international locations attain sustainable improvement targets, defending the planet and decreasing inequality.
Proparco supplies about 2.5 billion {dollars} of annual financing the place a few of which fits into funds who disburse to smaller final recipients.
Round 20 to 30 p.c go into infrastructure and the remainder into manufacturing and providers.
Out of commitments of two.8 billion Euros in 2024, a couple of third went for local weather associated tasks.
Of its portfolio of 9 billion euros about 6.5 billion euros was in debt and round 1.7 billion euros in fairness. Lending to Asia was round 15 p.c of the whole or a bit of beneath a billion Euros.
Beneath France’s Indo Pacific technique Asia is now turning into a spotlight space for the AFD group, officers mentioned. (Paris/Sept21/2025)
