AIIB willing to finance USD 220 mn for Sri Lanka’s energy development projects

The Asian Infrastructure Investment Bank (AIIB) has expressed the ability to finance USD 220 million for project development, and the development of transmission and grids in Sri Lanka.

Taking to Twitter, Minister of Power and Energy Kanchana Wijesekera revealed that AIIB have communicated the ability to finance USD 200 million for transmission and grid development in Sri Lanka, while USD 20 million more will be invested for project development.
The matter was discussed during a meeting held concerning the development of the 130 MW Sampur Ground Mount Solar Power Park, which is a joint project by the Ceylon Electricity Board (CEB) and the National Thermal Power Corporation (NTPC) in India.

Accordingly, the energy permit for the first phase of the 50 MW power plant is expected to be issued next week, while discussions are also ongoing with AIIB to raise the finances required for the development of the transmission lines and project.

Officials of NTPC India, CEB, AIIB and the Sri Lanka Sustainable Energy Authority (SLSEA) were also present at the meeting.