Asian bank eyes funding for Sri Lanka’s 5.4-MW Mawanana

The Asian Development Bank (ADB) is wrapping up a due diligence study of a proposed US$4.2 million loan to the developer of the 5.4-MW Mawanana hydroelectric project on Sri Lanka’s Gin Ganga Stream.

If approved the project would consist of a private sector loan to Hayleys Industrial Solutions for construction and operation of the run-of-river project on a build-own-operate basis near Neluwa in Galle District.

ADB said the project would help Sri Lanka in a small way to meet growing demand for electricity and contribute to sustainable economic development by providing cleaner and lower cost electricity. It said the project also would reduce dependence on oil-fired generation and would help Sri Lanka and ADB build experience in carbon emissions reduction transactions.

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