World Bank Group to Support Sri Lanka’s Clean Energy Transition with $150 Million Program

COLOMBO (News 1st) -The World Bank Group yesterday approved a new $150 million program to support Sri Lanka’s move toward clean, reliable, and affordable energy. 

The program Secure, Affordable, and Sustainable Energy for Sri Lanka—will support the country reduce its reliance on expensive fossil fuel imports and accelerate its shift toward solar and wind.

The program will support new solar and wind energy projects that will add 1 gigawatt of clean electricity to the grid – bringing Sri Lanka closer to its goal of generating 70 percent of its electricity from renewable sources by 2030.

The program is also expected to mobilize more than $800 million in private investment, helping to lower electricity costs and improve reliability for families and businesses.