ADB loans $150mn to develop green power and energy efficiency in Sri Lanka

Nov 24, 2014 (LBO) - The Asian Development Bank loans 150 million dollars as a the first tranche for the project of implementation of Green Power Development and Energy Efficiency Improvement Investment in Sri Lanka, a media release said. The total investment cost of program is estimated about 440 million US dollars and ADB has agreed to provide 300 million US dollars of the total cost under Multi-tranche Financing Facility (MFF).

The program will focus on the green power development portion of the government’s energy sector investment program while encouraging and facilitating private sector investment in renewable power generation through improving transmission infrastructure.

The program will also support development of hydropower generation and power transmission infrastructure.

The proposed project under the first tranche of the program will include the construction of the 30 MW, run-of-river hydropower plant at Morogolla, four new grid substations and associated facilities at Kerawalapitiya (220/33 kV), Kappalturai (220/132/33 kV) , Kaluthara and Kesbewa (both 132/33 kV) and augmentation of Katunayake and old Anuradhapura 132/33 kV grid substations in Western, Eastern and North Central Provinces,33 kV lines and gantr