The Asian Development Bank (ADB) signed an agreement with the Ceylon Electricity Board (CEB) on Thursday to provide US$ 150 million for transmission projects in Sri Lanka.
According to a CEB statement, after rigorous due diligence by the ADB on the technical, economic and social merits of the CEB’s upcoming investment proposals, the ADB approved the loan package in November 2024.
Through these funds, several essential projects in the CEB’s long-term transmission plan will be implemented over 2025-2027, which will improve the overall reliability and stability of the grid.
Transmission assets built through this loan will enable the integration of planned large-scale renewable energy developments into the national grid.
The financing will support the following;
- Construction of 6 new grid substations
- Construction of 87 km of 132 kV transmission lines
- Construction of 45 km of 220 kV transmission lines
- Augmentation of 2 existing grid substations
The CEB and its distribution subsidiary Lanka Electricity Company (LECO), serve over 7.5 million electricity customers, through the CEB’s transmission network comprising 3400 km of high voltage lines and 90 grid substations. (Newswire)