Asian Development Bank (ADB) and Ceylon Electricity Board (CEB) signed an agreement on 19th December
2024, for ADB to provide a loan of $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.
Through these funds, several essential projects in CEB’s long-term transmission plan will be implemented over
2025-2027, 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 into the national grid.
The financing will support
- Construction of 6 new grid substations
- Construction of 87 km of 132 kV transmission lines
- Construction of 45 km of 220 kV transmission lines
- Augmentation of 2 existing grid substations
CEB and its distribution subsidiary Lanka Electricity Company (LECO), serve over 7.5 million electricity
customers, through CEB’s transmission network comprising 3400 km of high voltage lines and 90 grid
substations.
