COLOMBO, Dec. 19 (Xinhua) -- The Asian Development Bank (ADB) signed an agreement with the Ceylon Electricity Board (CEB) on Thursday to provide 150 million U.S. dollars for transmission projects in Sri Lanka, a statement from CEB said.
The CEB said ADB approved the loan package in November 2024 after rigorous due diligence by ADB on the technical, economic and social merits of its upcoming investment proposals.
Through these funds, several essential projects in the long-term transmission plan will be implemented over 2025-2027. It will improve the overall reliability and stability of the grid, the CEB said.
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 construction of six new grid substations, the construction of 87 km of 132 kV transmission lines, the construction of 45 km of 220 kV transmission lines and the augmentation of two existing grid substations, according to the CEB.
The CEB and its distribution subsidiary Lanka Electricity Company (LECO) serve over 7.5 million electricity customers through its transmission network comprising 3,400 km of high voltage lines and 90 grid substations, according to the CEB. ■
