The World Bank Group today 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.
“This program will help deliver clean, affordable electricity to families and businesses across Sri Lanka,” said David Sislen, World Bank Division Director for the Maldives, Nepal and Sri Lanka. “We are excited to work with both the government and private sector to make this shared vision a reality.”
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.