Sri Lanka’s WindForce to expand BESS project with Rs. 1.73 billion
The Morning: WindForce PLC has been awarded a new grid-scale Battery Energy Storage System (BESS) project in Panadura, making the project Sri Lanka’s 13th national BESS programme.
The project, with a capacity of 10 MW/40 MWh, was awarded on 20 March, and will be implemented under a Build-Own-Operate model over a 15-year period.
The company plans to invest approximately Rs. 1.73 billion in the project, which will be fully owned by WindForce and financed through a mix of debt and equity.
The Panadura facility is expected to support improved grid stability and better management of peak electricity demand, contributing to the country’s shift towards a more sustainable energy system.
WindForce noted that the addition strengthens its growing portfolio of battery storage projects and its contribution to Sri Lanka’s renewable energy infrastructure.
OSL take:
Sri Lanka’s power and energy industry is on an expansion path given the country’s ongoing economic activities and increasing demand. With the country’s target of becoming a regional hub, the power industry would witness further expansion, especially the renewable energy generation sector. The Sri Lankan government is focused on increasing the country’s clean and renewable energy generation component to ensure sustainability and affordability of electricity to meet the increasing demand for power. These developments have also resulted in the expansion in the renewable energy generation sector creating more business/investment opportunities in the sector. Apart from the development of renewable energy generation plants, there are also emerging opportunities in introducing new technologies aimed at maximizing the output and use of renewable energy plants, both solar and wind power. The growth, profits and expansion of businesses already engaged in the sector and the increasing interest among foreign businesses/investors to explore opportunities in Sri Lanka’s renewable energy sector indicates the growth and business potential of the sector. Foreign businesses could also look at expanding operations in Sri Lanka’s renewable energy generation sector through local collaborations.
| Article Code : | VBS/AT/20260403/Z_1 |