The Asian Development Bank (ADB) is to support the construction of a 100 MW wind farm in Sri Lanka with a $200 million loan.
The wind farm, located in Mannar Island in the north of Sri Lanka, is considered to be the country’s first wind farm and is scheduled to start operating in 2021.
ADB will provide the Ceylon Electricity Board (CEB) with a $200 million loan for the $256 million project, which will help the country to meet its renewable energy goals. The project will also help CEB to establish procedures that will allow for further wind farm developments in the future.
ADB principal energy specialist Mukhtor Khamudkhanov said: “The new wind power generation project will not only provide access to a clean and reliable power supply in Sri Lanka, but also create an environment for further wind power development through future public-private partnerships.
“Diversifying the country’s power generation through clean, renewable energy sources will improve the country’s energy security and environment.”
Sri Lanka generates around two-thirds of its electricity from coal and oil. It has a target of generating at least 20 per cent of its power from renewable resources by 2020.
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