1.4 Billion Investment By Windforce Ltd, Vidullanka & HiEnergy 
Posted 21,April

By Chaveendra Dunuwille

In Local News

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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.