The Asian Development Bank (ADB) and the Ceylon Electricity Board (CEB) signed a $150 million loan agreement to fund essential projects in CEB’s long-term transmission plan.
The loan, approved in November 2024, will support projects aimed at improving the reliability and stability of Sri Lanka's power grid.
Accordingly, this includes constructing 6 new grid substations, 87 km of 132 kV transmission lines, 45 km of 220 kV transmission lines, and augmenting 2 existing substations.
It will also enable the integration of large-scale renewable energy developments into the national grid.
The agreement was signed by ADB's Country Director for Sri Lanka, Takafumi Kadono, and CEB General Manager, Ronald Comester.