The Asian Development Bank (ADB) has approved a $200 million loan to bolster Sri Lanka's power sector by upgrading transmission and distribution networks, promoting renewable energy integration, and improving grid reliability.

ADB’s Sri Lanka Country Director, Takafumi Kadono, highlighted the importance of power sector reforms and targeted infrastructure upgrades to reduce costs and enhance renewable energy development.

The project will include new transmission lines, grid-scale battery storage, and automation systems to modernize the power network. It also aims to meet Sri Lanka's ambitious goal of achieving 70% renewable energy by 2030 and carbon-neutral electricity generation by 2050.

Funds will be distributed to the Ceylon Electricity Board (CEB) and Lanka Electric Company (LECO), with additional support for female workforce development and community training in clean energy solutions.