Oct 18, 2018 (LBO) – Sri Lanka plans to implement the tranche 2 of the green power development and energy efficiency improvement investment program.
The program includes three major components; transmission infrastructure enhancement, efficiency improvement of medium voltage network and demand-side management improvement for energy efficiency.
Accordingly, Secretary of the Finance Ministry Dr. R H S Samaratunga, Country Director of French Agency for Development (AFD) Sri Lanka Resident Mission Martin Parent signed a credit facility agreement for the loan.
French Agency for Development will provide 30 million Euros loan to finance a part of the total project cost and they have already provided financing of 22 million Euros for the implementation of tranche 1 of the programme.
The total cost of this project is estimated at 260 million US dollars and the Asian Development Bank has already provided a 150 million dollars loan to finance a part of the project.
While ensuring a continuous supply of electricity, managing a strategic balance between indigenous energy resources and imported fossil fuels and coal is a major challenge faced by Sri Lanka’s power sector.
Ceylon Electricity Board has an ambitious capital investment plan for the next 10 years to maintain 100 percent electrification while improving supply quality and reliability.