In Colombo today, the government of Sri Lanka and the Asian Development Bank (ADB) signed the first of a two-part 300 million loan agreement to increase the use of clean energy for electricity generation. "The use of expensive oil-fired thermal plants to satisfy the growing demand isn't a viable and sustainable solution for energy security and environment protection in the long term," commented Sri Widowati, ADB's Country Director in Sri Lanka. "Diversifying the generation mix to combine primarily renewable energy sources will have major benefits both for poor communities and the broader economy." The signing was attended by ADB's Vice President Wencai Zhang. With Sri Widowati signing the loan on behalf of ADB. While P.B. Jayasundera, Secretary to the Treasury, Ministry of Finance and Planning, signed for the government of Sri Lanka. The program supports Sri Lanka's wider energy investment road map, as well as its plan to increase the share of grid power generated from non-conventional renewable energy sources, like mini-hydropower, wind power and solar power to 20% of the total by the year 2020. The improved system is predicted to boost access to reliable power for about 300,000 customers living in rural towns and outlying areas who currently suffer from poor quality supplies.
