Business
Loan facilities for commercial and residential solar power projects
Extending its support to the Sri Lankan government’s intention to increase the use of solar power among commercial and residential sectors, Sampath Bank PLC recently announced the introduction of a solar loan facility, especially tailor-made for projects to set up solar power units on the rooftops of domestic households and industrial establishments.
Under the new loan scheme, owners of residential or commercial buildings can apply for a loan to install solar power generating units up to a maximum of 50 KWh. Multiple loans can also be obtained if required, subject to the 50 KWh maximum capacity. These loans will be offered at an interest rate of 8% while a maximum loan repayment period of up to 10 years will be granted.
Factories and offices too can obtain loans at attractive interest rates, with a minimum of Rs. 50 million required to be taken. These commercial scale establishments will also receive a maximum loan repayment period of up to 15 years, with a 6-months grace period obtainable if required.
Speaking about the rationale behind the launch of this loan scheme, Nanda Fernando, the Managing Director of Sampath Bank PLC said, “The identification and utilisation of sustainable energy resources for electricity generation is one of the leading environmental concerns facing the world today and solar power has been identified as a key natural energy source that is both sustainable and practical for this purpose. The government has embarked on a project to increase solar power use across the island and we are honoured to support this environmentally conscious project by helping with the financing requirements.”
Explaining the benefits of switching to solar power, Manoj Akmeemana, the Senior DGM – Corporate Finance/ FCBU said, “Switching to solar based power generation will significantly reduce electricity consumption costs in the short term and can even be a source of additional income in the long term. Furthermore, using solar energy will help reduce one’s carbon footprint, improve sustainability and enhance the business by protecting nature. Using renewable sources of energy such as solar power is becoming increasingly popular due to the considerable cost savings and other benefits it offers.”
Prior to applying for the loan facility, applicants should ensure that their preferred solar system supplier is registered with the Sri Lanka Sustainable Energy Authority (SLSEA). Furthermore, a minimum 20-year warranty for panels and a minimum 10-year warranty for the inverter should be provided by the manufacturer and a minimum 3-year system warranty should be provided by the solar system supplier.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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