News & market updates

Sri Lanka's Board of Investment extended the RFI submission deadline for green hydrogen and green ammonia project proposals to June 19 (1500 hrs SLT). Eligible projects may receive BoI facilitation including fiscal incentives, infrastructure support and regulatory facilitation.

State-owned enterprises' combined profit fell 17.6% to Rs. 444.4 billion in 2025, driven by the Ceylon Electricity Board's swing to a Rs. 38.7 billion loss. Excluding CEB, the remaining 50 SOEs posted a 21.5% rise in profits to Rs. 483.2 billion, with Bank of Ceylon the top contributor and several SOE and power-sector reforms advanced.

Windforce PLC and Vidullanka PLC won the government contract to deploy grid-forming battery storage at 13 substation sites (each BESS 40MWh storage, 10MW discharge) as part of Sri Lanka’s largest BESS programme supporting the 70% renewable target by 2030.

Hayleys Mobility (part of Hayleys group) launched the JAECOO J5 HEV hybrid SUV, priced at LKR 19.9 million with an introductory LKR 1 million discount for the first 100 customers. The J5 HEV delivers 221 hp, 18.9 km/l fuel efficiency, a >950 km range, and is backed by 7-year vehicle and 8-year battery warranties.

Aitken Spence PLC received SBTi validation for its emission reduction targets, becoming the first diversified holdings company in Sri Lanka to achieve this. The validation aligns the Group's decarbonisation pathway with science-based thresholds and supports its sustainability-driven investment and risk framework.

EU-funded capacity-building programme to accelerate Eco-Industrial Park practices in Sri Lanka has been launched, targeting over 1,100 stakeholders including ~25 policymakers, 32 park operators, 475 tenant industries and 640 community members. Training covers policy, green finance, environmental management and industrial symbiosis, delivered via virtual and in-person sessions through July.

Aitken Spence PLC reported FY26 PBT of Rs. 12.8 billion (up 18%) and PAT of Rs. 9.1 billion (Rs. 6.8 billion attributable to equity holders); tourism accounted for 61% of Group PBT and overseas operations contributed 61% of profits.

Aitken Spence PLC posted FY26 PBT of Rs. 12.8 billion (up 18%) and PAT of Rs. 9.1 billion (up 27%). Tourism was the main driver—accounting for 61% of group contribution—overseas operations provided 61% of profits, and the group secured SBTi-validated emission reduction targets.

JAT Holdings posted record group revenue of Rs. 12.6 billion in FY25/26 (up 9% YoY) with gross profit rising 21% to Rs. 4.8 billion and PBT up 5% to Rs. 1.68 billion, driven by stronger margins, local sales growth and expansion into EV charging and international markets.

HayWind One, part of the Hayleys group, received the first 25 MW (five of ten turbines) for its 50 MW Mannar wind farm at Trincomalee Port; transfers to the Mannar site will continue over the next three months. The project is expected to yield about Rs.100 billion in imported fuel savings over 20 years.

Emirates repurposed more than 88,000 kg of Economy Class plastic into new inflight serviceware and invested over AED 50 million in a closed-loop manufacturing model. The recycled products (up to 25% recycled content) are made with partner deSter at a Dubai facility using solar power and returned to service onboard flights.

The Ceylon Chamber will host the Sri Lanka Climate Summit 2026 on 9 June in Colombo to focus on business climate readiness, investment readiness and unlocking climate finance. Participants include the Environment Minister, ADB, UN agencies, Commercial Bank CEO and Aitken Spence sustainability leadership.

Nyne Hotels reaffirmed its sustainability commitments and set 2030 targets including a 20% cut in greenhouse gas emissions, reduced water use and elimination of single-use plastics. The group is installing solar systems, water-saving fixtures and rainwater harvesting (up to 30% water savings) and pursuing Travelife certification at Rock Villa.

Hayleys' wind arm received the first 25 MW of turbines for the 50 MW Mannar wind farm, with components landing at Trincomalee Port and transfers to the Mannar site to continue over the next three months. The project is expected to deliver about Rs.100 billion in imported fuel savings over 20 years.

The EU urged Sri Lanka to develop a pipeline of bankable infrastructure projects and promoted its Global Gateway financing model—target expanded to €400bn by 2027—to fund ports, logistics, digitalisation and green infrastructure using blended finance and guarantees, stressing project preparation and regulatory predictability.

Windforce PLC (WIND.N0000) and Vidullanka PLC (VLL.N0000) won a government tender to deploy grid-forming battery energy storage systems—each BESS 40 MWh storage/10 MW discharge—across 13 substations. The rollout is Sri Lanka's largest BESS program and supports the 70% renewable-by-2030 target.

Sarvodaya Development Finance PLC (SDF) has appointed Saliya J. Ranasinghe as a Non-Executive, Non-Independent Director effective 1 June 2026. Ranasinghe brings over 35 years' experience in financial inclusion, microfinance, green finance and renewable energy, expected to strengthen SDF's board.

Cabinet approved awarding a $6.04 million contract to India's RS Infraprojects Ltd for Lot A of the Mullikulam Wind Power Transmission Project. Lot A covers the Mullikulam 220/33 kV collection grid substation and two 220 kV cable trays; Lot B was already awarded.

Haycarb PLC signed an agreement with the BOI for an $18.18m expansion of its Energy Storage Carbon manufacturing operations. The company reported FY26 pre-tax earnings of Rs. 5.52bn and post-tax Rs. 4.27bn, is developing a Philippines facility (phase 1 by H1 2027), and its shares rose 3% yesterday.

Sarvodaya Development Finance PLC (SDF) appointed Saliya J. Ranasinghe as Non-Executive, Non-Independent Director effective 1 June 2026. He brings over 35 years' experience in financial inclusion, microfinance, green finance and development finance.

Vibhawa Consultants announced Malki Madapatha as Sri Lanka’s first female Level 2 Certified Infrared Thermographer (IRISS, USA), strengthening the firm's in-house thermography capabilities used for predictive maintenance across power, hospitality and renewable-energy sectors.

INFRACON 2026, a rebranded infrastructure and construction exhibition, will be held 3–5 July at SBMEC Colombo showcasing HVAC-R, Power & Energy, Green Grid, Safe Water and Build Materials with local and international exhibitors to promote B2B deals and industry collaboration.

Colombo Stock Exchange partnered with the EU-funded Green Recovery Facility to advance Sri Lanka’s GSS+ bond market through training and market-building programs; since 2024 the market has raised about Rs.82 billion (~EUR216m), ~40% of CSE’s 2025 debt capital. DFCC Bank and Commercial Bank of Ceylon received international recognition for GSS+ issuances.

SAIGE LANKA opened Sri Lanka’s first SAIGE electric motorcycle showroom in Kadawatha, offering models with about 120 km range per full charge and a 5-year battery warranty. The importer plans a head-office charging station and a nationwide dealer network to expand availability.

Colombo Stock Exchange collaborated with the EU-funded Green Recovery Facility to advance Sri Lanka’s GSS+ bond market, which has raised about LKR 82 billion (~EUR 216m) since 2024. DFCC Bank and Commercial Bank of Ceylon received international awards for their GSS+ issuances.

German business and government officials at the Sri Lankan‑German Business Forum 2026 said Germany views Sri Lanka as a strategic Indo‑Pacific partner and urged faster reforms and policy consistency to unlock investment in logistics, renewable energy, infrastructure and tourism.

The Board of Investment launched the 'Ready to Invest' digital platform showcasing 30 pre-structured, shovel-ready projects across eight priority sectors to attract international capital. BOI says USD 1.9bn of approved projects are ready to break ground, with a further USD 1.4bn in the pipeline.

Sun Siyam Pasikudah has launched a 400 sq ft, solar-powered floating dining platform (the Aqua Lounge) in Pasikudah Bay, billed as the only ocean-facing floating fine-dining venue on the bay and east coast. The platform emphasizes sustainability and community outreach as part of the resort's wider programmes.

Seylan Bank PLC has partnered with Hayleys Fentons Limited to offer a dedicated EV leasing facility with competitive interest rates, up to 7-year repayment terms and 24-hour approvals. The program covers EV brands represented by Hayleys Fentons and includes doorstep support and island-wide branch assistance.