DFCC Bank said last week it was stepping up focus on renewable energy in the country.

It continued to administer renewable Energy for Rural Economic Development Project (RERED) successor to the previous Energy Services Delivery Project (ESD) partnered by Government of Sri Lanka and the World Bank and successfully implemented off-grid electrification of 10,930 households mostly located outside the Western Province during the 9 month period. This project emphasises hydro and solar home systems with the objective of delivering affordable and environment friendly electricity. The Bank was associated with this project from 1997 and has successfully implemented off-grid electrification of over 120,000 households island wide since inception and 110 MW of power has been connected to the national grid since then under these two projects. The successful implementation of the projects has received recognition by the World Bank and the Government and the model is being emulated by countries at a similar stage of developing rural electrification.

In a July 2007 the World Bank in a publication titled “DFCC Bank – One Among the Successful Few” published in connection with the golden anniversary of the Bank, recognised the Bank as a development finance institution that evolved over the years to become one of the more successful banks in the country, and probably in the region, without losing its focus on development. Going forward the Bank intends to continue its involvement in development finance whilst taking necessary steps to cater to its varied stakeholders and create value for its shareholders.