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Rising electricity costs are putting pressure on small businesses across Sri Lanka. But what if they could benefit from solar power without having to install their own panels?
The Asian Development Bank (ADB), in partnership with the Government of Sri Lanka, the European Union and the Japan Fund for Joint Credit Mechanism, is piloting an innovative approach. Solar panels installed on public buildings will generate electricity credits that can be shared with eligible households and businesses, helping them reduce their electricity bills. For the first two years, priority will be given to women-led and other small businesses.
Alongside this initiative, the project will help modernize Sri Lanka's electricity grid, expand battery energy storage and build advanced distribution control centers. It will also help develop clean energy skills and create new job opportunities, particularly for women and other underrepresented groups.
Together, these investments aim to make renewable energy more accessible while building a more resilient and secure energy future.
"Electricity is a major cost for my business. It affects how I run my business and make a living."
Small and medium businesses, like Jenny's shoe factory, make up about half of Sri Lanka's economy and support millions of jobs. But rising energy costs, made worse by economic pressures, climate impacts, and global fuel supply disruptions, are putting their future at risk.
"Experts talk about the success of renewable energy, but for people like me, nothing has changed. Electricity prices keep rising."
The Sri Lankan government is taking steps to address this through several initiatives.
Russel Aponsu, Secretary, Ministry of Energy, Government of Sri Lanka:
"Sri Lanka has ambitious renewable energy goals. Achieving them requires solutions that expand clean energy while ensuring the benefits reach communities across the country."
To support this, ADB is partnering with the Government of Sri Lanka, the European Union, and the Japan Fund for Joint Credit Mechanism to pilot an innovative project.
Distribution utilities will install solar panels on public buildings. The energy generated is virtually collected in a Social Compensation Electricity Pool. Each month, energy credits from the pool are allocated through virtual net metering. These credits help consumers reduce their electricity bills.
For the first two years, priority will be given to women-led and other small businesses.
Shannon Cowlin, ADB Country Director for Sri Lanka:
" A successful energy transition is about more than just generating clean electricity. It's about ensuring the benefits are shared widely while building resilient systems for the future."
The project will also support battery storage, smart electricity networks, advanced digital infrastructure, and green skills development.
Rohitha Jayarathne, Chairman, Electricity Distribution Lanka (Pvt) Ltd:
"We will establish four advanced distribution control centers in Sri Lanka. This will provide much-needed visibility and controllability of the distribution system and connected embedded generators."
For small businesses, this project means sharing in the benefits of renewable energy, and for Sri Lanka, it means a cleaner, more resilient, and secure energy future.
ADB, with support from Japan through JFPR, is helping Timor-Leste’s coffee farmers improve livelihoods through climate-smart farming, financial access, and stronger market links.
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet.
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