Power and Energy Minister Kanchana Wijesekera announced yesterday that the Ceylon Electricity Board (CEB) used its net profit of Rs. 93 billion, registered by June 2024, to settle various power project debts. In a post on ‘X,’ Minister Wijesekera detailed that the net profit was utilized to pay outstanding amounts owed to renewable energy developers,
Fitch Ratings-Colombo/Singapore-25 July 2024: Despite a 22.5% tariff cut effective from 16 July 2024, Ceylon Electricity Board’s (CEB, BB+(lka)/Stable) cash flow will remain sufficient to service debt, according to Fitch Ratings. The agency anticipates no immediate impact on the Sri Lankan electricity distributor’s payments to independent power producers (IPPs). The lower tariffs are supported by
Sri Lanka’s renewable energy sector is buzzing with renewed optimism after the Ceylon Electricity Board (CEB) finally settled outstanding dues of around Rs. 40 billion owed to solar power generation companies. This positive development, coupled with timely monthly payments moving forward, has created a “pleasant environment” for businesses according to Riyaz Sangani, Founder CEO of