Bank of Ceylon, first state institution to provide 1 MW to the national grid

Sri Lanka’s biggest bank, the Bank of Ceylon now contributes 1MW solar power energy to the national grid, the first state institution to do so, with the ultimate aim of providing solar power energy to 42 bank branches.

It was generated with the view to reducing the energy consumption of the bank along with its branch network and to support the national energy crisis as a gesture of commitment and concern towards environmental sustainability.

This 1 MW solar Photovoltaic energy was released with the con- nection to BOC Nugegoda branch as the 27th BOC branch to be converted to generate solar energy, the bank said in a media release.

The pilot project in this regard was car ried out i n the Tissamaharama Branch and with its success, rolled out to 27 BOC branches. Soon this initiative will be taken across to another 15 other BOC branches, completing 42 branches altogether in the first phase of this project. The outcome of 1MW renewable energy generation capacity is expected eventually to lead to the generation of 1.387 million units ( 1,387,000 kWh) annually, offset CO2 gas emissions by 1,205.3 tons annually, save 13,854 trees annually and save Rs.27.74 million annually, the release said.

Envisioned to be the catalyst for sustainable development through social, environmental and economic bottom line, the bank’s mission is to stay on the course as ‘ a responsible corporate citizen by operating the business in an environmentally responsible, socially equitable and economically sound manner’ improving social and economic wellbeing is an integral part of BOCs core operations.