In a significant move to bolster its renewable energy portfolio, WindForce PLC
has officially entered into a loan agreement with the International Finance Corporation (IFC)
, a member of the World Bank Group. The facility, totaling an aggregate amount of up to the LKR equivalent of USD 18 million
, was approved by the company's Board of Directors on April 20, 2026.
The financing is structured into two strategic phases designed to accelerate Sri Lanka's transition to sustainable energy:
- Phase 1 Loan: Up to USD 10 million (LKR equivalent) will be utilized to finance the Company’s equity contribution toward the 100MW solar park project in Siyambalanduwa. This project is currently owned and operated by Rividhanavi (Pvt) Ltd.
- Phase 2 Loan: Up to USD 8 million (LKR equivalent) is earmarked for Battery Energy Storage projects or other eligible renewable energy initiatives undertaken by WindForce PLC or its subsidiaries.
The company made this immediate disclosure to the Colombo Stock Exchange (CSE)
in accordance with Listing Rule 8. WindForce PLC noted that this material borrowing is expected to have a direct impact on its financial position and operations
, and the information is likely to influence market activity and the price of the company's securities.
Furthermore, the company confirmed that these transactions do not constitute a “major transaction” under Section 185 of the Companies Act No. 7 of 2007.
