WindForce PLC recorded solid financial growth during the first half of FY2026/27, while advancing major solar, wind and battery energy storage investments that will significantly expand its renewable energy portfolio.
Key achievements at a glance
- 20% year-on-year revenue growth to Rs. 5.61 billion for the six months ended 30 September 2026.
- 12% increase in gross profit to Rs. 3.21 billion and 5% growth in profit after tax to Rs. 1.86 billion.
- First USD 5 million tranche received under an USD 18 million IFC financing facility.
- Financial closure achieved for the 100 MW Rividhanavi Solar Park, with Rs. 22.736 billion and the LKR equivalent of USD 33 million in financing and guarantee facilities.
- Commissioning of the 5 MW Diya Janani floating solar project at Dambulu Oya Reservoir.
- Five standalone BESS facilities commissioned by October 2026, providing a combined 50 MW/200 MWh of storage capacity.
- Development pipeline exceeding 240 MW, including the 50 MW Mullikulam and 10 MW Safe Power International wind projects.
Financial performance and resilience
Consolidated revenue for the six months ended 30 September 2026 increased to Rs. 5.61 billion from Rs. 4.68 billion a year earlier. Gross profit rose to Rs. 3.21 billion, while profit after tax reached Rs. 1.86 billion, compared with Rs. 1.77 billion in the corresponding period. The receipt of the first USD 5 million tranche of the Company’s USD 18 million facility with the International Finance Corporation (IFC), a member of the World Bank Group, further strengthened access to long-term international capital.
These results were delivered despite renewable energy curtailments that caused an estimated Rs. 193.57 million in foregone revenue during the period. Although the Public Utilities Commission of Sri Lanka has approved a compensation methodology and directed the National System Operator to compensate generators based on applicable energy purchase tariffs, discussions remain ongoing and the timing and recovery of compensation are uncertain.
Landmark projects move forward
In September 2026, the 100 MW Rividhanavi Solar Park at Siyambalanduwa achieved financial closure, securing Rs. 22.736 billion and the LKR equivalent of USD 33 million in syndicated term loan and bank guarantee facilities. The consortium was led by Sampath Bank PLC, with Commercial Bank of Ceylon PLC, National Development Bank PLC and Nations Trust Bank PLC, enabling the project to progress into construction.
The Company also commissioned the 5 MW Diya Janani floating solar project at Dambulu Oya Reservoir in September. As one of Sri Lanka’s pioneering private-sector floating solar developments, the project demonstrates WindForce’s commitment to innovative, land-efficient renewable energy solutions.
Battery storage marks a major breakthrough
WindForce commissioned its 10 MW/40 MWh Anuradhapura Battery Energy Storage System (BESS) in September, the first completed facility in a portfolio of 13 standalone projects totalling 130 MW/520 MWh under Sri Lanka’s first grid-scale BESS initiative. Four additional facilities—in Mahiyanganaya, Ampara, Panadura and Vavuniya—were commissioned in October, adding 40 MW/160 MWh and bringing the operational total to five facilities.
The portfolio represents an investment exceeding Rs. 22.5 billion and is being developed under a 15-year Build, Own and Operate model. Once completed, these projects are expected to enhance grid stability, support renewable energy integration and reduce pressure on the national grid during peak evening demand.
Building the next phase of growth
Beyond these milestones, WindForce continues to advance a development pipeline exceeding 240 MW. This includes the proposed 50 MW Mullikulam Wind Power Project through Aeroforce (Pvt) Ltd and a 10 MW wind project through Safe Power International (Pvt) Ltd, reinforcing the Company’s focus on a diversified generation mix and Sri Lanka’s long-term energy security.
Managing Director Manjula Perera commented: “Over the past 16 years, WindForce has built a strong renewable energy platform. Our ambition now is to double the capacity we have built over those 16 years within the next three years. With major projects moving through construction and commissioning, and stronger access to international financing, we are well positioned for the next phase of growth.”
