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Sri Lanka seeks multilateral funds for 600MW pumped storage plant to integrate renewables

Summary by EconomyNext
ECONOMYNEXT – Sri Lanka’s state-run Ceylon Electricity Board said it has begun seeking funds for to build a 600 MegaWatt pumped storage plant to integrate solar and wind energy and maintain grid stability. The CEB wanted to tap multilateral lenders to reduce electricity sales prices. “At a recent meeting, international development partners were introduced to the project’s financial roadmap,” the power utility said in a statement Friday. “CEB aim…
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Lanka News Web (LNW)Lanka News Web (LNW)

CEB advances Maha Oya Pumped Storage hydropower project - LNW Lanka News Web

As the global energy landscape shifts toward sustainability, Sri Lanka is taking a significant step forward with its pioneering Maha Oya Pumped Storage Hydropower Project.  This innovative venture is set to revolutionize the country’s renewable energy sector, offering a stable and efficient solution for integrating solar and wind power into the national grid. The project underscores Sri Lanka’s commitment to a greener future by reducing dependen…

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LankaxpressLankaxpress

Sri Lanka’s first “Water Battery”: CEB advances Maha Oya Pumped Storage hydropower project - LankaXpress

The Ceylon Electricity Board (CEB) says that it is making significant progress toward launching the Maha Oya Pumped Storage Hydropower Project, Sri Lanka’s first-ever “Water Battery.”  This groundbreaking 600 MW initiative will store excess renewable energy from solar and wind sources, ensuring grid stability and supporting Sri Lanka’s goal of generating 70% of its electricity from renewables by 2030. The project, located in Aranayake and Nawala…

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EconomyNextEconomyNext

Sri Lanka seeks multilateral funds for 600MW pumped storage plant to integrate renewables

ECONOMYNEXT – Sri Lanka’s state-run Ceylon Electricity Board said it has begun seeking funds for to build a 600 MegaWatt pumped storage plant to integrate solar and wind energy and maintain grid stability. The CEB wanted to tap multilateral lenders to reduce electricity sales prices. “At a recent meeting, international development partners were introduced to the project’s financial roadmap,” the power utility said in a statement Friday. “CEB aim…

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EconomyNext broke the news in on Friday, February 21, 2025.
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