Thursday, 3 July 2014 01:02
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DFCC Consulting Ltd. is a 100% owned subsidiary of DFCC Bank and is a member of the well- diversified DFCC Group which includes DFCC Vardhana Bank PLC, Synapsys Ltd., Lanka Industrial Estates Ltd. (LINDEL), Acuity Partners Ltd. and National Asset Management Ltd. (NAMAL).
Set up in 2004 with the mandate to provide fee based consultancy services using the experienced human resources available within the DFCC Group, DFCC Consulting during its first decade of operation, has grown in stature and has established itself as a key player in the consulting sphere.
The firm’s areas of specialisation include advisory services to the energy and finance sectors. Its track record is impressive having performed several domestic and overseas assignments for government, multilateral and private agencies. These include the World Bank who retained DFCC Consulting to evaluate the financing and performance of private grid connected renewable power projects in Sri Lanka.
The firm was also retained by a leading NGO in Nepal to provide capacity building to a specialised development bank for the appraisal of hydropower projects in that country. At present DFCC Consulting is advising an agency of the Government of Uganda on the implementation of a loan scheme for solar power.
The firm was also instrumental in supporting the DFCC Group in the conversion of the Home Finance Company of Fiji into a commercial bank, providing consultancy services in IT, trade finance and Treasury management.
DFCC Consulting functions independently and provides specialised services such as due diligence, financial evaluations, sourcing and syndication of funding and sourcing investors and developers for identified projects. The firm also performs a wide spectrum of support functions for DFCC Bank where it provides supplementary expertise in specialist areas such as project engineering, environmental impact assessment and renewable energy.
DFCC Bank has been a pivotal figure in financing the renewable energy sector. The bank’s pioneering efforts has been a catalyst for many other ventures resulting in a thriving sector that provides nearly 8% of Sri Lanka’s requirement.
The bank funded the nation’s first-ever privately-owned, grid-connected mini-hydro power plant in 1996. DFCC was also the pioneer financier for private sector wind power projects and in 2010 part-financed the first wind project in the country. To date the bank has funded 56 hydropower projects and three wind power projects contributing 148MW and 30MW respectively to the national grid.
DFCC’s outstanding role in the renewable energy sector has been recognised by a special commendation from the World Bank. The Bank was also the recipient of the ‘Outstanding Project – Technology Development’ award from the Association of Development Finance Institutions in Asia & Pacific (ADFIAP) for the successful implementation of the World Bank’s Energy Service Delivery (ESD) and Renewable Energy for Rural Economic Development (RERED) projects in Sri Lanka.
Drawing from the vast experience and knowledge of its parent entity, DFCC Consulting follows in this tradition with key expertise that includes performing due diligence on renewable energy projects such as mini hydro, wind and bio-fuel based power projects.
The firm also conducts unique experience/expertise sharing programs for foreign delegates seeking to study the Sri Lankan model and gain experience in the renewable energy sector. The firm has also conducted many overseas training programs overseas on the mini-hydro power industry.
This parent and subsidiary equation has resulted in a strong confluence of resources, expertise and experience and is proving to be an impetus for continuing success in developing current and future business prospects.
