News & market updates

Fitch has affirmed WindForce PLC's National Long-Term Rating at 'A+(lka)' with a Stable Outlook. Fitch notes WindForce's planned capex of over LKR40bn, EBITDA net leverage rising to ~6.8x in FY27 before easing to ~4.6x by FY28, and concentration risk from CEB accounting for over 80% of EBIT.

CEB trade unions have warned of industrial action unless the government meets demands on employee rights, salaries and formal confirmation of existing benefits before the restructuring under the Electricity Act No.36 of 2024 is gazetted. They also demand asset audits, protections for provident/pension funds and restoration of suspended benefits, warning of possible electricity supply disruptions.

David Pieris Renewable Energy launched PROJOY electrical safety products and Hoymiles hybrid solar and microinverter systems in Sri Lanka at the Kedella Lifestyle Exhibition, adding DC isolators, rapid shutdown devices, surge protection and Tier‑1 microinverters to its offerings.

Sri Lanka is offering tax holidays of up to 15 years and pitching Colombo Port City as a regional financial and trade hub to attract UAE investors. Officials said investment approvals will be streamlined and highlighted opportunities in agriculture, tourism, ports and renewable energy.

Grid Connected Solar Power Association says CEB's nine-month weekend/public-holiday curtailment of large renewable plants has caused about Rs.2 billion in losses and cut monthly incomes of ground-mounted solar owners by ~15%. The group urges immediate BESS implementation, compensation and continuation of the FIT, warning that draft National Electricity Policy proposals (no-compensation curtailment, rupee PPAs, competitive bidding) and delayed guidelines threaten the local renewable sector and co

The country's single largest coal procurement—1.5 million MT at CIF $98.50 (~$150m) awarded to Trident—has been delayed and mishandled. Trident has missed scheduled laycans and may face penalties, threatening supply and potentially leading to higher (‘cost-reflective’) electricity bills.

ASPI rose 0.03% (7.45 pts) to 23,813.77 while the S&P SL20 slipped 0.02% to 6,617.85; turnover was Rs.8.3 billion and foreigners were net sellers with a reported net outflow of Rs.144.6 billion. Top contributors included HNB, DFCC, UML, RICH and ASCO, with DOCK, HAYL and SFCL dragging the index.

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 it as the Lowest Cost Bidder. The award follows regulatory approvals and places the project in the Mannar wind corridor, adding renewable capacity.

Sri Lanka solar producers say curtailment of renewable generation has expanded from weekends to weekdays in 2026, cutting around Rs 2 billion (about 15% of revenues) and leaving many unable to service loans. Firms seek compensation or a battery tariff while delays in BESS policy and rupee depreciation worsen finances.

The Northern Investment Summit 2026 (21–22 Jan) set out plans to transform Sri Lanka’s Northern Province into an investment hub, proposing infrastructure upgrades (a four‑lane highway, Jaffna runway extension, KKS port upgrade) and three industrial zones at KKS, Paranthan and Mankulam.

Prime Minister Dr. Harini Amarasuriya met ADB President Masato Kanda in Davos to discuss Sri Lanka’s reform agenda and economic situation; she also met EU Commissioner Jozef Síkela to seek stronger cooperation on economic recovery, education, digital transformation, climate resilience and sustainable development.

Sri Lanka's central bank will present a report to Parliament showing inflation below 2% in Q1–Q2 2025 (with -1.1% in Q2 and 0.8% in Q3), missing its 5% floor. The achievement has drawn praise but also concerns about the central bank's exchange-rate and operating framework.

FINEXT 2025 career fair at the University of Sri Jayewardenepura linked undergraduates with finance, technology and professional services firms; participating shortlisted companies included UAL.N0000, CALH.N0000, VLL.N0000, WLTH.N0000 and NDB.N0000. A panel on the export-oriented knowledge and professional services sector and onsite interviews provided recruitment and industry insights.

Vietnam opened its 14th Party Congress, targeting average annual GDP growth of 10% or higher for 2026–2030 and a per capita GDP of around $8,500 by 2030, prioritising technology-led, private-sector-driven and green economic transformation.

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.

A CSF study reviewing 250 EIA reports (1991–2025) finds major inconsistencies and gaps in how social impacts are assessed and communicated, weakening EIAs' role in decision‑making and public accountability. The report urges clearer ToRs, better methods and more accessible reporting to bolster investor confidence and reduce project risks.

Sri Lanka Treasury bill yields have edged up, breaking the unusually flat, compressed rates across tenures. Analysts warn the move signals government fiscal needs that could crowd out private credit, push up deposit and lending rates and exacerbate rupee depreciation and fiscal pressures.

Global stocks and futures slid after President Trump threatened additional tariffs on several European countries, stoking trade-war fears that weakened the dollar, propelled gold to record highs and pushed oil prices lower.

Sarvesh Suri was named IFC Regional Vice President for Asia and the Pacific and will lead IFC investment and advisory operations across the region, overseeing work from India to the Pacific Islands on finance, manufacturing, agribusiness, services, infrastructure and natural-resources projects.

Global crude prices fell over 3% as easing tensions in Iran and larger-than-expected US inventory builds reduced supply-risk concerns; Brent retreated to about $64/bbl and WTI slipped below $60, reversing recent gains.

IMF said Sri Lanka’s electricity pricing under its IMF-supported program remains tied to cost recovery to protect fiscal sustainability; an IMF staff team will visit Sri Lanka from Jan 22–28, 2026 to assess cyclone damage and inform program discussions.

Hayleys PLC (via Hayleys Fentons / HayWind One Limited) has begun construction of a 50 MW wind farm in Mannar to supply electricity to the national grid under a PPA with the Ceylon Electricity Board. The project is expected to save about Rs.4.7 billion in annual fuel costs and offset ~186,300 tonnes of CO2.

Several business chambers, including the Ceylon Chamber, AmCham and Exporters Association, submitted joint feedback on Sri Lanka's Draft National Electricity Policy, warning that removing cross-subsidies and capping subsidies to households under 30 kWh/month could weaken affordability and raise fiscal risks. They also cautioned that uncompensated curtailment and removing feed-in tariffs may make renewable projects un-bankable and raise the cost of capital.

Hayleys PLC launched construction of the 50 MW Hayleys Fentons wind project in Mannar, expected to generate 207 million kWh/year at a tariff of $0.0465 per unit and due for completion in March 2027.

Major industry bodies, led by the Ceylon Chamber of Commerce, submitted joint observations urging comprehensive revision of the Draft National Electricity Policy, flagging gaps on affordability, de-carbonisation, renewables incentives and tariff proposals. They warned that removing cross-subsidies, restricting subsidies to households <30 kWh/month, allowing uncompensated curtailment, removing feed-in tariffs and imposing mandatory time-of-use on rooftop solar could undermine investment, raise ca

An IMF fact-finding mission will visit Sri Lanka from Jan 22-28 to assess Cyclone Ditwah damage and implications for the country's Extended Fund Facility (EFF) programme. The IMF approved about USD 206m in emergency RFI financing on Dec 19 and said it will discuss policy intentions, including maintaining cost-recovery electricity tariffs.

Hayleys PLC's unit Hayleys Fentons launched construction of a 50 MW wind power plant in Mannar, expected to generate 207,000,000 kWh/year and supply electricity at USD 0.0465 (LKR 14.37) per unit, scheduled for completion in March 2027.

Industry chambers jointly warned the Draft National Electricity Policy could make renewable projects un-bankable and undermine affordability. They flagged gaps on affordability, decarbonisation, and incentives and warned that removing cross-subsidies, limiting subsidies to households <30 kWh/month, removing feed‑in tariffs, uncompensated curtailment and mandatory time‑of‑use for rooftop solar raise fiscal and investment risks.