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Saturday, October 3 2026
Saturday, October 3 2026
MONETABRIEF – Sri Lanka has signed agreements to fund virtual net metering and advanced metering infrastructure to absorb and manage intermittent renewable energy with grants from the EU and Japan and a loan from the Asian Development Bank.
The ADB is giving a 35 million dollar concessional loan.
The European Union is giving 15.4 million Euro grant (16.94 million dollars).
The Japan Fund for the Joint Crediting Mechanism is giving a 5.5 million dollar grant.
Electricity Distribution Lanka (former CEB) will develop an Advanced Metering Infrastructure (AMI) system, a Distributed Energy Resource Management (DERM) system, and distribution control centres supported by an Advanced Distribution Management System (ADMS).
"These systems will digitalise EDL's customer and operational services and improve network reliability by enabling faster restoration of supply after outages," the Finance Ministry said in a statement.
"The smart meters and supporting infrastructure will also provide the real-time visibility and control needed to expand the use of renewable energy and extend the benefits of solar power to more people.
"EDL will thereby establish a more efficient, reliable and sustainable smart grid." Lanka Electricity Company (LECO), will in addition to virtual net metering will also install low-loss conductors to improve the efficiency of the distribution network.
High-capacity battery energy storage systems installed at distribution transformer level to increase the network's renewable energy hosting capacity and provide controllability over renewable energy management.
In Negombo area, LECO expects to enhance its network capacity to connect more high-capacity commercial and industrial loads, while strengthening the network to absorb higher levels of renewable energy.
The loan agreements were signed on October 1, 2026 by Treasury Secretary, Harshana Suriyapperuma and ADB Country Director for Sri Lanka Shannon Cowlin. (Colombo/Oct03/2026)
| 3 month bill | 9.25% | 5bp ▲ |
| 12-m bill | 9.95% | 2bp ▲ |
| Gold (Ounce) | $4602 | - - |
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