Testifying its commitment towards developing Sri Lanka’s renewable energy sector, Amana Bank recently financed the 2MW ground mounted ‘Horana Solar Power Plant’ commissioned by Vidullanka PLC, a front runner and pioneer in generating clean and affordable energy to the country. The solar plant, which is estimated to annually generate 3.9GWh of energy, was ceremoniously connected to the National Grid on 9 June 2023 in the presence of distinguished guests including Power and Energy Minister Kanchana Wijesekara, Power and Energy State Minister Indika Anuruddha, Ceylon Electricity Board General Manager Eng. Rohan Seneviratne, Sri Lanka Sustainable Energy Authority Chairman Eng. Ranjith Sepala, Amana Bank Managing Director/CEO Mohamed Azmeer and Vidullanka CEO Riyaz Sangani.
Commenting on the project Amana Bank’s Managing Director/CEO Mohamed Azmeer stated, “Partnering with Vidullanka in the establishment of the Horana Solar Power Plant brings us great excitement as we strongly believe that investing in a sustainable projects today will pave the way for a Carbon balanced and more nature friendly tomorrow for Sri Lanka. Our model of banking also encourages financing projects which have a sustainability impact and our track record includes many such projects including financing mini-hydro power plants, bio-mass power plants as well as Large scale industrial Roof top Sola projects, Ground mounted Sola projects, Waste Plastic recycling projects and sustainable aqua-culture ventures. By joining forces with Vidullanka we aim to create a lasting impact that reflects our unwavering commitment to a greener and more sustainable future.”
Also sharing their appreciation Vidullanka’s CEO Riyaz Sangani said “We are happy to have a financial partner in Amana Bank, who has encouraged our mission of harnessing the abundant renewable energy resources the country is blessed with. Their unique partnership based model of banking is an ideal fit for the development projects we undertake and the Bank’s risk appetite for such have been welcoming as we work together in reducing the nation’s carbon footprint.”
As per the address to the gathering by the Hon. Minister and CEB officials it was learnt that Vidulllanka is the only participant to successfully complete and commission the awarded tender under CEB’s “Soorya Bala Sangramaya Phase III” for 150 MW renewable energy capacity increase launched in March 2020 despite the drastic cost escalations occurred during recent past.
Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange with Jeddah-based IsDB Group being the principal shareholder having a 29.97% shareholding of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Testifying its position as a leading practitioner of the non-interest based banking model, Amãna Banks continued to be recognized amongst the Top 100 Strongest Islamic Bank’s in the World by The Asian Banker.
Amãna Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.
Image Caption - Dignitaries at the inauguration including Minister Kanchana Wijesekara, State Minister Indika Anuruddha, CEB General Manager Eng. Rohan Seneviratne, Sri Lanka Sustainable Energy Authority Chairman Eng. Ranjith Sepala, Amana Bank Managing Director/CEO Mohamed Azmeer and Vidullanka CEO Riyaz Sangani
