News & market updates

Mithila Wegapitiya, CEO of LAUGFS Power PLC, has been appointed Vice Chairman of LAUGFS Holdings following Thilak de Silva's resignation. The move follows Vallibel Three Ltd.'s acquisition of 50% of LAUGFS Holdings and will focus on group restructuring and post-acquisition strategy.

Brantel Lanka Ltd. has increased its stake in Resus Energy PLC to 10% after buying over 5 million shares at Rs.42–42.10 each for about Rs.214 million. Resus reported net asset value per share of Rs.29.92 in the June 2025 quarter; major shareholders include Trydan Partners (32.54%) and ACL Cables (32.53%).

Mahindra's Treo electric three-wheeler range offers real-world ranges (Treo Auto 130 km; Treo Plus up to 150 km; Treo Zor cargo 110 km), IP67-rated battery and motor protection, CATL-backed batteries and a 5-year/100,000 km warranty for fleet customers.

The EU-funded AICRSL project and UNIDO held the EnMS Forum on 29 Aug, highlighting training of 500+ industry and government professionals and reporting collective abatement of about 12,832 tCO2e with average annual energy savings of 29 GWh. The Rs.2.8bn initiative aims to cut industrial GHG by 7% by 2030 and move to institutionalise energy management through policy and skills networking.

Expo Lanka Freight (EFL) Project Division was the logistics partner for the Richardson Serendib 5 MW solar plant in Hiripitiya, managing regulatory approvals, bonded-warehouse imports, coordinated high-frequency shipments, interim storage and last-mile deliveries including a 7-ton transformer.

Global sales of battery-electric and plug-in hybrid vehicles rose 15% y/y to 1.7 million units in August, the slowest growth since January, Rho Motion said. China’s EV growth cooled to 6% (1.1m units) while Europe (+48%) and North America (+13%) saw gains.

Brantel Lanka increased its stake in Resus Energy PLC (HPWR.N0000) to just over 10%, buying 5,060,305 shares at 42–42.10 rupees and bringing total holdings to 8,620,385 shares (10%). The stock was trading up 0.50 rupees at 43.90.

The Ceylon Chamber presented its 2026 Budget wish list to President Anura Kumara Disanayake, urging trade facilitation (National Single Window, customs modernisation, dedicated FTA team), investment incentives and PPPs, a global tourism marketing push, and accelerated Digital ID/5G rollout.

Ten Sri Lankan students have been awarded Commonwealth Scholarships to pursue postgraduate studies in the UK this year, including nine MSc scholars and one PhD recipient. Their fields span climate change, energy policy, business analytics, migration and education.

Sampath Bank was named Sri Lanka’s Best Bank for ESG at the Euromoney Awards for Excellence 2025 after channelling Rs.1.44 billion into renewable energy projects, cutting its carbon footprint by 8% and increasing solar generation by 36%.

GS EVO Motors, exclusive JMEV distributor in Sri Lanka, launched the JMEV EVEASY electric car range offering a 500 km single-charge range and an 8-year/150,000 km battery warranty. Models support AC home charging and DC fast charging and are calibrated for Sri Lankan roads.

Terra Motors has launched its Kyoro electric three-wheeler in Sri Lanka and is seeking sole distributor partners. Kyoro targets passenger mobility and last-mile logistics with up to 200 km range, an 11.7 kWh battery, 55+ km/h top speed and four-hour fast charging.

Cabinet approved a committee to draft a national electricity policy to drive CEB unbundling, introduce market competition and improve governance. The report notes volatile CEB results (Rs.58bn in 2023, Rs.144bn in 2024, Rs.18bn loss in Q1 2025 after a 20% tariff cut) and legacy debt cited at Rs.182–301bn, raising fiscal and bank exposure concerns.

Siyapatha Finance PLC, the largest fully owned subsidiary of Sampath Bank (SAMP.N0000), completed a 13-programme nationwide financial literacy initiative covering all provinces. Sessions addressed personal money management, leasing, gold loans, factoring, green finance and AML/consumer protection aligned with Central Bank regulations.

Sampath Bank (SAMP.N0000) was named Sri Lanka’s Best Bank for ESG at the Euromoney Awards 2025 after reporting Rs.1.44 billion in renewable-energy lending, an 8% carbon footprint reduction and other sustainability initiatives.

Sri Lanka's Cabinet approved setting up an up-to-8-member committee to draft the National Electricity Policy as part of the National Energy Policy. Members will have at least 15 years' expertise in energy policy, renewable energy and energy transition; several senior experts were named.

Sri Lanka's state-run Ceylon Electricity Board has sought a 6.8% tariff increase. The regulator said the rise is mainly due to higher demand met by thermal generation, plus finance and penalty costs related to renewable suppliers, and would be spread evenly across consumer groups.

Cabinet approved the Sri Lanka National Climate Finance Strategy 2025–2030 to mobilise private capital into renewables, agriculture, fisheries and climate‑resilient infrastructure. The government says about $500m a year is needed for these investments and the national budget cannot sustain that level of spending.

LOLC Holdings' subsidiary LOLC Advanced Technologies has partnered with Corsair Group International to expand its Kerawalapitiya waste-to-fuel plant to process 12 million kg of plastic waste annually into ISCC PLUS-certified pyrolysis oil; construction starts in 2025 and is expected to take about two years.

Global investment in new renewable energy projects reached a record $386 billion in 1H 2025, up 10% year‑on‑year. Asset finance for utility‑scale solar and onshore wind fell (utility‑scale solar down 19%), with revenue and policy concerns cited in markets such as China and the US.

The Institution of Engineers, Sri Lanka (IESL) at NEC 2025 urged engineers to lead Sri Lanka's industrial transformation and presented a report with sectoral recommendations across agriculture and plantations, construction, digital transformation, power and energy, transport, water, and trade.

Panasian Power (PAP.N0000) said its 5 MW ground-mounted solar plant in Galle is fully operational and connected to the national grid from 4 September. CEB transmission upgrades resolved earlier limits and this is the 4th of seven 5 MW projects under PPAs in 2024.

IESL's NEC 2025 urged engineers to lead Sri Lanka’s industrial transformation, with the government as facilitator. Recommendations covered construction (national building code, development fund), digital transformation (Digital Blueprint 2030), renewables/BESS and grid upgrades, agricultural mechanisation, transport and water reforms.

Government breaks ground on the $140m Rividanavi Solar Power Park, a 100 MW project expected to add 219 GWh/yr to the grid and save Rs.21bn in diesel imports; the project is implemented by Rivi Danavi, a JV including WindForce PLC, and targets Q1 2027 completion.

NDB Bank launched the SME Re-Energizer Loan offering MSMEs and start-ups up to Rs.25 million at 7% p.a. for investment funding. The scheme targets sectors including manufacturing, agriculture, tourism, exports, apparel and construction and funds machinery, solar, vehicles and tech upgrades.

Assetline Finance Ltd reopened its newly refurbished Dehiattakandiya branch, upgrading facilities to deliver faster service and access to its full suite of financial solutions including automotive leasing, loans, fixed deposits and solar financing.

NelFarms won two awards at Sri Lanka Clean Energy Week 2025 — Best Solar Project Deal and Company of the Year — after adding 6.9 MW of solar, bringing its total connected solar capacity to over 8 MW.

Businessman Dhammika Perera is buying a 39% stake in Laugfs' holding company as founder director Thilak de Silva exits. Laugfs—which includes listed Laugfs Gas and Laugfs Power and operates LPG, shipping and power businesses—has a reported market transaction estimate of about 5–7 billion rupees.