FINANCIAL CHRONICLE – WindForce PLC has been awarded a contract to build a standalone Battery Energy Storage System (BESS) project in Panadura, under Sri Lanka’s grid-scale BESS program.
The newly awarded project will have an installed capacity of 10 MW/40 MWh and will be developed under the Build–Own–Operate (BOO) model, similar to the previous 12 projects, the energy firm stated.
“The Panadura project will operate under a 15-year contract period, ensuring long-term operational stability while contributing to improved peak-demand management and enhanced grid reliability,” the company added.
The total investment for the Panadura BESS project is estimated at 1.73 billion rupees, structured on an 80:20 debt-to-equity financing model.
WindForce PLC will hold a 100 percent stake in this project, as reported.
“With this latest award, WindForce’s cumulative portfolio under the national BESS procurement program increases to 13 standalone BESS projects,” the company concluded.
(Colombo/Mar23/2026)
