ECONOMYNEXT – Sri Lanka is borrowing 30 million US dollars from the World Bank to strengthen the electricity grid to accommodate more renewable energy, the Finance Ministry said. Renewable energy is intermittent and money has to be spent to maintain grid stability and reduce the risk of cascading failire, to accommodate electricity that flows in the opposite direction and also to bring renewable power from remote locations. Sri Lanka’s grid capacity has “hindered the utilization renewable energy presenting significant technical challenges, therefore, the proposed project has been formulated to enhance the infrastructure facilities to facilitate the grid integration of renewably…
Sri Lanka borrows US$30mn from World Bank for renewable energy
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