FINANCIAL CHRONICLE – Vidullanka, a Sri Lankan energy company, has announced that it has finalized a share sale and purchase agreement along with a shareholders’ agreement to acquire a 49 percent equity interest in Storex (Pvt) Limited for approximately 2 billion rupees. The remaining 51 percent stake will be retained by WindForce.
This investment is associated with a portfolio comprising twelve Battery Energy Storage System (BESS) projects, each with a capacity of 10 MW and 40 MWh, which have been allocated to WindForce by the Ceylon Electricity Board, as stated in a recent market announcement from the company.
WindForce has confirmed that these twelve project sites are being developed under the Storex entity. Furthermore, Vidullanka and WindForce have jointly obtained the rights to develop a separate 10 MW 40 MWh BESS project in Vavunathivu, which continues to progress independently in accordance with the existing consortium framework.
Storex has successfully acquired all required regulatory approvals and has reached financial closure for the development of these twelve grid-scale BESS plants throughout Sri Lanka. (Colombo/May 14/2026)
