45
Asian Development Bank (ADB) has agreed to provide Ceylon Electricity Board (CEB) with a loan facility of US$ 150 million, which is utilised in several essential projects in CEB’s long-term transmission plan.
Accordingly, the ADB and the CEB signed an agreement yesterday (19) for ADB to provide a loan of US$ 150 million to CEB. After rigorous due diligence by ADB on technical, economic and social merits of CEB’s upcoming investment proposals, ADB approved the loan package in November 2024, a CEB media release revealed.
Through these funds, several essential projects in CEB’s long-term transmission plan will be implemented from 2025 to 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 to the national grid.
Besides, the financing will support the construction of six new grid substations, construction of 87 km of 132 kV transmission lines, construction of 45 km of 220 kV transmission lines and augmentation of two existing grid substations.
Dharma Sri Abeyratne
