News & market updates

WindForce PLC was awarded the Letter of Award by the Ceylon Electricity Board for Lot 1 of the 50 MW Mullikulam Wind Power Project, confirming WindForce as the lowest-cost bidder. The award follows completion of statutory approvals (CANC, Cabinet, PUCSL) and adds a utility-scale renewable asset in Mannar.

WindForce PLC (WIND.N0000) commissioned a 432.2 kWp rooftop solar PV project at Joy Island, Maldives on 13 Dec 2025 under an EPC contract costing US$321,000.

WindForce PLC commissioned a 432.2 kWp rooftop solar PV project at Joy Island (Kassanfushi, Maldives) on 13 Dec 2025 at a final project cost of USD 321,000. The project was delivered under an EPC contract with Joy Resort Pvt Ltd, with capacity increased to meet revised client requirements.

WindForce PLC commissioned a 432.2 kWp rooftop solar PV project at Joy Island, Maldives on 13 December at a total cost of $321,000. The company said project capacity and cost were increased from initial plans to meet the client’s revised requirements.

Vidullanka PLC and WindForce PLC were awarded contracts by the Cabinet to build and operate two 50 MW wind power stations (100 MW total) for the Mullikulum Wind Power Project under 20-year BOO arrangements, advancing Sri Lanka's renewable energy targets.

Colombo market extended its rally to five sessions as the ASPI gained 1,011.18 pts (4.7%) for the week, reclaiming Rs.320.65 bn in market value; yesterday ASPI closed at 22,508.26 with turnover of Rs.3 bn. Top contributors included SFCL, JKH, HAYL, WIND and VLL; DOCK and HNB saw share price declines.

Colombo Stock Exchange rose 0.22% as the ASPI closed at 22,508.26 with turnover down to 3.02 billion rupees. Vidullanka and Windforce were awarded contracts to develop 50MW wind plants in Mannar, and several stocks (Senkadagala Finance, John Keells, Hayleys, Windforce, Vidullanka) helped lift the index.

Vidullanka and Windforce were awarded contracts to develop two 50MW wind plants in Mullikulam, Mannar; Vidullanka bid 3.77 US cents/kWh and Windforce 3.96, the lowest tariffs so far.

Cabinet approved awarding two 50MW Mullikulum wind projects, one to Vidullanka PLC and one to WindForce PLC. The awards are part of the 100MW Mullikulum Wind Power Park bidding process and support the government's push to 70% renewable energy by 2030.

WindForce PLC subsidiary Diya Janani Ltd signed a Standard Power Purchase Agreement with the Ceylon Electricity Board on 27 Nov for a 6.5MWdc/5MWac floating solar project at Dambulu Oya costing about Rs.1.2 billion. The wholly owned project will be financed 80:20 debt‑equity and adds a utility-scale floating solar asset to WindForce's renewable portfolio.

WindForce subsidiary Diya Janani signed an SPPA with the Ceylon Electricity Board to build a 6.5MWdc/5MWac floating solar project on Dambuluoya Reservoir at an estimated cost of 1,176 million rupees, financed 80:20 debt to equity. The company said it is one of the first and largest private-sector floating solar developments in Sri Lanka.

Vidullanka PLC acquired a 30% stake in SAFE Power International for Rs. 225 million to develop a 10MW wind plant in Alankuda, Kalpitiya. SAFE Power is 51% owned by Windforce; the plant is expected to deliver 32 GWh of clean energy and will operate for 20 years.

Energy Minister Kumara Jayakody warned that lobbying for higher feed-in tariffs would raise consumer bills, noting solar prices paid to new producers have fallen from 37 → 27 → 24 → 18 rupees. He cited 30% cheaper panels, a stronger rupee, competitive low bids (e.g. Vidullanka ~3.77 USc/kWh) and additional grid/BESS costs.

WindForce PLC emerged as the lowest-cost bidder for Lot 1 of the 50MW Mullikulam Wind Power Project, though the formal award is still pending. The company said the outcome is price-sensitive and will make further disclosures after any official award or agreement execution.

Colombo Stock Exchange rebounded as the ASPI rose 0.39% (88 pts) to 22,777.12 with turnover around Rs 5.38bn and foreign investors net sellers of Rs 372.5m. Key movers included Windforce (+17.6%), Colombo Dockyard (-9.9%) and gains in LAUGFS Gas and Lanka Realty Investments.

Colombo Stock Exchange rose with the ASPI up 0.39% to 22,777.12 as foreign investors bought a net 372.5 million rupees and turnover was 5.39 billion rupees. Windforce PLC, a top contributor, said it was the lowest bidder for a 50 MW wind plant in Mullikulam.

WindForce PLC (WIND.N0000) said it emerged as the lowest-cost bidder for Lot 1 of the 50MW Mullikulam wind power project in Mannar. The company said the award is pending final awarding procedures, regulatory approvals and negotiation of terms.

Vidullanka submitted the lowest bid of 3.77 US cents/kWh for the Ceylon Electricity Board's 2×50 MW Mullikulam wind tender; Windforce bid 3.96, Hayleys 4.17, ACL 4.33 and Aitken Spence 4.805. Bids are below the prior 4.65 cents award and reflect efforts to cut generation costs amid a weak rupee.

Colombo Stock Exchange closed down as the ASPI fell 0.44% to 22,689.22 with turnover Rs6.19bn. Top contributors included Colombo Dockyard, Ceylinco Holdings, Vidullanka, Lanka Realty Investments and C M Holdings, and several energy names (eg. Vidullanka, WindForce) saw investor interest.

Colombo market opened lower as the ASPI fell 0.10% to 22,788.79; major movers included Colombo Dockyard (DOCK +24.20%) and Ceylon Hospitals (CHL +25.64%), while C T Holdings, Central Finance and Richard Pieris were among the session's laggards.

ASPI rose 0.66% (+149.82 pts) to 22,783.62 as the Colombo bourse extended gains, led by banks and diversified financials with heavy turnover and notable rises in SEYB, HNB, CFIN, COOP, HARI, SIRA, DFCC and WIND.

Colombo Stock Exchange closed higher as the ASPI rose 0.66% to 22,783.62 and the S&P SL20 rose 0.47% to 6,292.27, led by heavy buying in banks and finance; top contributors included Central Finance, Co-operative Insurance, Harischandra Mills, DFCC, WindForce and Seylan Bank.

WindForce PLC finalised a Rs. 50 million, 24-year land lease for the 100 MW Rividhanavi Solar Power Project, effective 10 October. The company said all major project agreements, including the PPA, Implementation Agreement and Transmission Development Contract, are now completed.

Colombo Stock Exchange closed higher with market capitalisation surpassing Rs. 8 trillion for the first time as the ASPI rose 0.23% to 22,372.57. Turnover was Rs. 5.7 billion, diversified financials led activity, and key positive contributors included WIND, DIAL, HNB and NDB; foreigners were net sellers (Rs.59m outflow).