News & market updates

Panasian Power (PAP) completed and connected a 5 MW ground-mounted sun-tracking solar plant to the national grid on July 14 and expects commercial operations to start shortly. The plant, operated via a PAP subsidiary, uses Longi bi-facial N-type panels and is the group's third 5MW ground-mounted project.

Commercial Bank signed an MoU with Tantri Energy to promote renewable energy adoption by offering Green Loans and Green Leases at preferential rates with financing tenors up to seven years. The promotion runs until 31 May 2026 and customers installing Tantri solar systems receive extended warranty packages.

Sri Lanka and China reaffirmed a strategic cooperative partnership and pledged to accelerate Belt and Road projects, including Colombo Port City and Hambantota Port. They also agreed to deepen cooperation across trade, investment, infrastructure, maritime affairs, green energy, digital economy and agriculture.

Vidullanka PLC launched the Colombo Stock Exchange's first-ever listed Sukuk. The asset-backed, Shariah-compliant instrument creates a new financing route for renewable energy and infrastructure projects that could benefit other listed power companies.

A coalition of private-sector groups urged Parliament to withdraw the draft Electricity Act amendment and prepare a revised draft through transparent, multi-stakeholder consultation. They say the draft re-bundles CEB under Transco, weakens regulator safeguards, removes decarbonisation targets and risks investor confidence and donor support.

Advocata Institute urged the government to reaffirm the 2024 Electricity Act and resist 2025 amendments that would reconsolidate the Ceylon Electricity Board under 100% state control. The paper warns reconsolidation would deter private investment, entrench inefficiencies and strain public finances, and highlights LECO as a commercially governed model.

Euro Motors has partnered with Dongfeng to launch the fully electric Dongfeng Box hatchback in Sri Lanka, priced at Rs.9,750,000 (Rs.250,000 below the standard Rs.10,000,000). The model features a long wheelbase, Level 2 ADAS, extensive warranty and service packages, and lease finance up to 90%.

S.M. Marikkar was elected Chair of Parliament's Sectoral Oversight Committee on Infrastructure and Strategic Development, which oversees the Power & Energy; Transport, Highways, Ports & Civil Aviation; and Urban Development, Construction & Housing ministries and 47 institutions. The committee can examine bills, treaties and reports and conduct inquiries within its remit.

The International Solar Alliance will host the Seventh Regional Committee Meeting for Asia and the Pacific in Colombo from 15–17 July to advance regional solar cooperation and investment, focusing on catalytic finance, digital capability centres, regional e-procurement, green hydrogen and energy storage.

The International Solar Alliance will hold its Seventh Regional Committee Meeting for Asia and the Pacific in Colombo, Sri Lanka on 15–17 July 2025 to advance regional solar cooperation and scale deployment. Agenda items include catalytic finance, digital capability/STAR centres, SIDS e-procurement, green hydrogen, energy storage and regional interconnections.

Hayleys Electronics unveiled its 2025 product portfolio and new tagline 'Trust Beyond a Warranty', expanding offerings in solar, lighting (including Opple), air-conditioning and switchgear through partnerships with global suppliers.

A Sri Lanka Ports Authority delegation visited the Port of Antwerp-Bruges on 23–24 June and initiated talks on a prospective MoU for cooperation on information exchange, logistics, technical expertise and port digitalisation. The team also toured DP World’s automated Antwerp Gateway terminal and a CMB TECH hydrogen refueling station.

Japan and Sri Lanka held the 2025 Economic Cooperation Policy Dialogue in Colombo on July 4, 2025; Japan pledged continued support including yen loans and technical/financial assistance to help Sri Lanka recover, pursue IMF-aligned reforms, and advance SDG and climate goals.

Singer Sri Lanka PLC launched the Piaggio Apé E City electric three-wheeler at the Colombo EV Motor Show 2025, offering a certified range of 145 km + 5 km and ~3h30m charging time. Singer, as exclusive distributor, also announced flexible financing, island-wide after-sales service and spare-parts access.

Kahawatte Plantations PLC (KAHA.N0000) reports a transformation across 16 estates (12,356 ha), delivering over Rs.4m monthly energy savings and a Rs.120m solar project (70% grant-funded), obtaining GlobalGAP cinnamon certification, securing top tea auction prices and pursuing ERP, drone forecasting and agroforestry initiatives.

E Gravity Solutions won the Gold Award in the IT, Digital, and Online Category at SLIM–SMEDA 2025. The company highlighted PowerNerves, its industrial IoT energy-monitoring solution that provides real-time consumption data, submetering and analytics to improve energy efficiency.

Vidullanka PLC completed Sri Lanka’s first listed Sukuk issuance, a landmark highlighted at the 13th Capital Markets Conference. CSE CEO outlined market challenges and reforms, noting progress on sustainable/social bonds, Sukuk, stock lending and plans for a derivatives exchange with India’s NCDEX.

Commercial Bank of Ceylon (COMB.N0000) has partnered with Prime EV Automobiles to offer exclusive EV leasing through end-2025, including up to 90% financing, customised repayment plans, special insurance rates and green-lease status.

A delegation of about 20 Indian entrepreneurs, coordinated by the CII, is exploring investment opportunities in Sri Lanka across energy, infrastructure, the digital economy, tourism and agriculture. President Anura Kumara Disanayake said the government has created a more favourable, stable investment environment and strengthened legal and institutional frameworks to attract investors.

People’s Bank hosted the 'Entrepreneurial Glory 2025' MSME Trade Fair on 27–28 June, launched a new SME Credit Card and disbursed SME loans to support small businesses. The bank said it will expand the initiative with regional MSME trade fairs across the island.

A CII delegation of Indian CEOs met Sri Lankan business leaders in Colombo on 30 June to discuss improving trade facilitation, aligning regulatory frameworks and encouraging investment and joint ventures across manufacturing, healthcare, logistics, renewable energy and tourism. Participants committed to continued engagement through chamber networks.

Agarapatana Plantations' Diyagama West Estate produces over one million kilograms of made tea annually and is modernizing its factory into Sri Lanka's first fully automated upcountry Rotorvane unit. The estate, a Lankem Developments subsidiary, also runs a historic hydro power unit, holds sustainability certifications and supplies Dimbula teas to export markets.

The Ceylon Chamber and Indo-Lanka Chamber hosted a June 30 CEO roundtable with an Indian CII delegation led by Sanjiv Puri to discuss improving trade facilitation, aligning regulations and boosting investment and joint ventures across manufacturing, healthcare, logistics, renewable energy and tourism.

John Keells CG Auto opened a fifth BYD showroom in Ampara, expanding the BYD retail network across five regions in Sri Lanka and planning service/spare-parts facilities plus nearby 7kW EV charger installations to improve NEV accessibility.

The Supreme Court found several clauses of the proposed Electricity (Amendment) Bill inconsistent with the Constitution, stating they require a special parliamentary majority and/or a public referendum unless amended. The Court identified specific issues in Clauses 8(2), 13(1)(b), 13(1)(c) and 13(12) and set out required amendments.

Johannes Zutt has been appointed World Bank Vice President for South Asia, effective 1 July, and will manage a $39 billion portfolio covering Bangladesh, Bhutan, India, Maldives, Nepal and Sri Lanka. He will be based in New Delhi as the new regional hub.

CoPF says outdated Customs valuation of used vehicle imports could be causing up to Rs. 36.5 billion in annual revenue losses, citing a blanket 15% depreciation and inconsistent EV declarations. The Committee called for an urgent review to close valuation loopholes and clarify duties/registrations.

AHK Sri Lanka's Spring 2025 survey found 54% of German-affiliated firms in Sri Lanka rate their current situation as "good" and 66% expect business conditions to improve over the next 12 months; 33% plan to increase local investment and 31% plan to expand staff. Firms cited skilled labour shortages, weak domestic demand, unfavourable financing and US trade policy risks as main concerns.

National Development Bank (NDB) launched the E-Friends II Refinance Loan Scheme with the Ministry of Industries offering up to Rs.30 million per borrower at 6.5% p.a. and up to 10 years' repayment to fund sustainable, energy-saving and cleaner production investments.