Sri Lanka, Aug. 25 -- The Cabinet of Ministers has granted approval for a project to install 300,000 smart meters equipped with a Time-of-Use (TOU) billing system, marking a key step in modernizing Sri Lanka's national electricity grid.

According to the Department of Government Information, the initiative is funded through a USD 15 million concessional loan facility provided by the Asian Development Bank (ADB) to support complementary projects aimed at strengthening the country's renewable energy efforts. Approval to secure the initial ADB loan was previously granted at the Cabinet meeting held on October 21, 2024.

Subsequently, during the Cabinet meeting on September 03, 2025, approval was granted to allocate USD 2.5 million from the ...