Windforce Ltd is one of the most recent companies to be listed in the Colombo Stock Exchange and from the initial get go they have come upon a series of successes. The Initial Public Offering (IPO) of the company, the largest since 2011 recorded a value of LKR 26.7 billion 7.9 times the offering value due its oversubscription. It is Sri Lanka’s largest producer of renewable energy and is the only company to have the AA- (stable) qualification awarded by the ICRA.
In partnership with Vidullanka PLC and HiEnergy Services Ltd Windforce has acquired Solar Universe Ltd. Who recently won a tender for the construction of a 10 MW Solar power plant in Vavunathivu. Each company owns 33.33% of Solar Universe Shares.
The project is expected to cost around LKR 1.4 billion and is to be funded equally by all three companies who will use their engineering expertise to design and manage the new solar power plant.
Constructions are expected to begin in the 3rd quarter of 2021 and upon its completion it will be able to contribute 19.70 Gwh of power annually which the equivalent of saving 49 million litres of oil.
The new solar power plant will bolster the already impressive portfolio of Windforce Ltd who operate over 27 power plants both locally and internationally.
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