Since the Bank’s infancy in 1955, DFCC Bank is associated with an innovative and catalytic role in the development of the private sector, which still continues to date, regardless of the institution’s recent transformation into a fully fledged commercial bank. The Bank has been a lender towards energy generation projects from time when the demand for energy was accelerated by the boost of industrialization and urbanization. DFCC Bank has come forward to support numerous ventures that were initiated to meet this energy demand by means of renewable energy sources whilst also protecting the environment by reducing the carbon footprint.
Among the key renewable energy projects and ventures financed and co-financed by DFCC Bank are; Sri Lanka’s first utility scale grid connected private sector mini hydro power project, the 0.96MW “Hydrotech Lanka Dick Oya”, Sri Lanka’s only megawatt scale hydro power turbine manufacturing entity VS Turbo, Sri Lanka’s first private sector wind power project of 10MW developed by Senok Wind Power at Mampuri, Kalpitiya, the country’s first grid scale solar power plant the 10MW project developed by Saga Solar.
DFCC Bank was also appointed as the Administrative Unit for the GOSL/World Bank/ Global Environment Facility funded Energy Services Delivery (ESD) Project. The goal of the project was to encourage the private sector to enter the electricity generation space for both grid connected and off- grid applications using environmentally sustainable renewable energy technologies.
In 2006, the Bank co- managed the first ever Initial Public Offering (IPO) and listing of shares of a renewable energy based independent power producer Vallibel Power Erathna. This paved the way towards the listing of other renewable energy based power generation firms on the Colombo Stock Exchange, thus enhancing the financing and investment options available to such firms and the investing public. During 2014-2017, DFCC Bank implemented the GOSL/ European Investment Bank funded EUR 90 million SME and Green Energy Project, which gave a further boost to renewable energy investments in Sri Lanka.
In 2017, DFCC Bank seized the opportunity to finance distributed solar power generation on third party rooftops by introducing a new model. As land has become a precious resource in urban areas, rooftop solar projects help conserve land while generating environmentally friendly electricity to the national grid.
In addition to this, DFCC Bank participates in the GOSL/ ADB funded Rooftop Solar Power Generation Line of Credit. As a part of this scheme, DFCC Bank will provide up to 100 percent financing for residential systems up to 1.5 million rupees and up to 80 percent financing for all other systems.
DFCC Bank was ranked amongst Business Today’s Top 30 Corporates in Sri Lanka.
