Vidullanka and WindForce Awarded Contracts for $21bn Battery Storage Projects in Sri Lanka
The Ceylon Electricity Board has awarded contracts to Vidullanka PLC and WindForce PLC to develop standalone battery energy storage systems (BESS) as part of Sri Lanka's first grid-scale initiative. Vidullanka will develop a 10MW/40MWh facility in Vavunathivu through a consortium with WindForce, while WindForce will manage 12 additional projects totaling 120MW/480MWh. All projects follow an 80:20 debt-to-equity financing model and aim to enhance national grid stability and renewable energy integration.
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The Ceylon Electricity Board has awarded contracts to Vidullanka PLC and WindForce PLC for battery energy storage systems (BESS) projects. Vidullanka received a Letter of Award for a 10MW/40MWh facility in Vavunathivu, developed with WindForce under a build, own and operate model.
Total financing is structured as 80% debt and 20% equity. WindForce secured Letters of Award for 12 BESS projects, adding 120MW/480MWh capacity, with an investment of Rs.20.79 billion. All projects operate under a 15-year BOO model. These initiatives aim to improve grid stability and renewable energy integration.
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