The Ceylon Electricity Board (CEB) will invest capital for the next 10 years to maintain 100 per cent electrification while improving supply quality and reliability.
The CEB will launch the tranche 2 of the Green Power Development and Energy Efficiency Improvement Investment Programme including three major components, (i) Transmission infrastructure enhancement; (ii) Efficiency improvement of medium voltage network and (iii) demand side management improvement or energy efficiency through development of a smart grid and metering pilot subproject in this regard.
The French Agency for Development (AFD) has already provided Euro 22 million for the implementation of Tranche 1 of the Programme.
The project will cost US$ 260 million. The ADB has already provided USD 150 million loan to finance a part of the project. The AFD will provide Euro 30 million loan to finance a part of the cost and the balance will be borne by the CEB.
Finance and Mass Media Ministry Secretary Dr. R. H. S. Samaratunga on behalf of the Government and AFD Country Director Martin Parent on behalf of AFD signed a Credit Facility Agreement for the loan on October 17 at the Finance and Mass Media Ministry.