UNIDO initiative in renewable energy
View(s):The United Nations Industrial Development Organization (UNIDO) and the International Centre for Hydrogen Energy Technologies (ICHET) recently jointly organized a workshop on “Renewables coupled to Hydrogen Energy Storage: an opportunity for sustainable energy investments in Sri Lanka”, in a bid to promote renewable and clean energy technologies for stationary and transport applications.
Nawaz Rajabdeen, National Director, UNIDO in Sri Lanka said that there is an urgent need to find initiatives for alternative energy and hydrogen holds great promise for cleaner urban environment by replacing polluting fossil fuel.
He said that since 1999 UNIDO has taken various initiatives to the value of US$7.5 million in areas of trade capacity building, energy and environment and poverty alleviation in Sri Lanka and for the National Bamboo initiative the amount that would be spent by UNIDO, in the range of $24 million, would be the largest.
He said the hydrogen project is planned to be piloted based on the world’s first fleet of hydrogen 3-wheelers which was launched in New Delhi this January. This project has taken three years with co-funding from UNIDO and ICHET.
At this workshop it was revealed that UNIDO and ICHET have inaugurated in New Delhi, the 3W project where a fleet of 15 three-wheeled vehicles powered by hydrogen and serviced by appropriate refueling was demonstrated.
At this workshop, making a presentation, Prof. I.M Das, Centre for Energy Studies, Indian Institute of Technology said that with the use of hydrogen two major initiatives in transport and power generation could be made which would facilitate green initiatives for transport and power generation.
Kapila Subasinghe, Vice President (Corporate Banking) DFCC Bank making a presentation on “Credit Facilities in the field of Renewable Energy in Sri Lanka said that they have financed the pioneering mini hydropower project in Sri Lanka together with equity participation. They have seen business potential in these projects.
He said that in Sri Lanka development banks financed the renewable energy projects and led the way with innovations in managing credit risk. They have syndicated large loans to mitigate concentration of risk, secured cash flows, scheduled loan amortization by season (rainfall-cash flow) and was able to take over and transfer the project as a going concern.(QP)
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