$52 Million AIIB Loan Funds New Power Cable Project in Colombo
A 220-kilovolt underground transmission cable project in Colombo has commenced, funded by a $52 million loan from AIIB. This initiative aims to enhance electricity supply and integrate renewable energy into the national grid.
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Construction has started on a 16-kilometer underground transmission cable system from the Kerawalapitiya Grid Substation to the Colombo Port Grid Substation, supported by a $52 million loan from the Asian Infrastructure Investment Bank (AIIB). The project will upgrade substations and install control systems to accommodate the rising electricity demand in Colombo.
It will also provide an alternative power route during maintenance, ensuring uninterrupted supply. The new system will integrate electricity from the Kerawalapitiya LNG power plants and connect renewable energy from the Northern and Eastern provinces to the national grid. This project could significantly enhance energy resilience in the region.
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