{"id":50311,"date":"2026-06-27T13:28:28","date_gmt":"2026-06-27T07:43:28","guid":{"rendered":"https:\/\/nepalsamaj.com\/en\/?p=50311"},"modified":"2026-06-27T13:28:28","modified_gmt":"2026-06-27T07:43:28","slug":"adb-approves-57-4-mln-usd-clean-energy-financing-package-for-sri-lanka","status":"publish","type":"post","link":"https:\/\/nepalsamaj.com\/en\/adb-approves-57-4-mln-usd-clean-energy-financing-package-for-sri-lanka\/","title":{"rendered":"ADB approves 57.4 mln USD clean energy financing package for Sri Lanka"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p>The Asian Development Bank (ADB) has approved a 57.4-million-U.S.-dollar financing package to help Sri Lanka expand access to affordable clean energy and reduce greenhouse gas emissions, the bank said in a statement Friday.<\/p>\n<p>The financing will support rooftop solar aggregation and virtual net metering, allowing eligible consumers to benefit from solar power without installing panels on their own buildings.<\/p>\n<p>The package includes a 35-million-dollar concessional loan, a 16.9-million-dollar grant from the European Union and a 5.5-million-dollar grant from the Japan Fund for the Joint Crediting Mechanism. Counterpart funding from implementing agencies will bring the total estimated project cost to 80.5 million dollars, the ADB said.<\/p>\n<p>ADB said the Rooftop Solar Aggregation and Virtual Net Metering Project will help two government-owned power utilities establish a scalable, utility-led model. The model will pool electricity generated by large rooftop solar systems and virtually distribute credits to eligible consumers.<\/p>\n<p>ADB Country Director for Sri Lanka Shannon Cowlin said the project would widen access to affordable renewable energy, strengthen grid readiness and support a more resilient and inclusive power sector.<br \/>\nThe project will help micro, small and medium-sized enterprises and community organizations, including those unable to install rooftop solar systems because of financial or space constraints, reduce electricity costs through allocations under a social compensation mechanism.<\/p>\n<p>The financing will support about 25 megawatt-peak of rooftop solar installations. It will also help modernize and digitalize the distribution networks of the two utilities and strengthen the grid for greater use of distributed renewable energy.<\/p>\n<p>ADB said the project will also establish a training facility for green skills development, strengthen women&#8217;s participation in the clean energy sector and build capacity in advanced low-carbon technologies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Asian Development Bank (ADB) has approved a 57.4-million-U.S.-dollar financing package to help Sri Lanka expand access to affordable clean energy and reduce greenhouse gas emissions, the bank said in a statement Friday. The financing will support rooftop solar aggregation and virtual net metering, allowing eligible consumers to benefit from solar power without installing panels [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-50311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/posts\/50311"}],"collection":[{"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/comments?post=50311"}],"version-history":[{"count":1,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/posts\/50311\/revisions"}],"predecessor-version":[{"id":50312,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/posts\/50311\/revisions\/50312"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/media\/2067"}],"wp:attachment":[{"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/media?parent=50311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/categories?post=50311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nepalsamaj.com\/en\/wp-json\/wp\/v2\/tags?post=50311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}