CSE filing·Sep 26, 2024Positive
WINDFORCE PLC – CORPORATE DISCLOSURE UNDER SECTION 8.1 OF THE LISTING RULES
SIYAMBALANDUWA 100 MW SOLAR POWER PLANT PROJECT: PIONEERING SRI LANKA’S CLEAN ENERGY TRANSITIONRenewable Energy
Company filings and market news from across Sri Lanka's stock market.
WindForce PLC increased its stake in Rividhanavi from 30% to 50% after The Blue Circle Pte Ltd fully exited, making WindForce an equal 50% owner with Lakdhanavi in the 100 MW Siyambalanduwa solar IPP.
Colombo Bourse fell for a second week as the ASPI lost 0.9% and the S&P SL20 lost 1.5% amid election uncertainty, with weekly turnover averaging Rs.1.03 billion. Major laggards included Commercial Bank, HNB, John Keells and Windforce, while Ceylon Tobacco, Ceylon Grain Elevators and Cable Solutions gained.
Colombo Stock Exchange closed lower: All Share Index down 0.23% to 10,775 and S&P SL20 down 0.46% to 3,021, turnover 449 million and net foreign outflow of 43.06 million.
Colombo Stock Exchange fell as the All Share Index dropped 1.38% to 10,719 and the S&P SL20 fell 1.69% to 3,006 on turnover of 615 million, with election-month political uncertainty weighing on sentiment.
LTL Holdings plans to raise up to Rs20bn via an IPO at Rs14.50/share (issue opens Sept 10), selling ~22% to raise Rs16bn plus a Rs4bn green shoe; about Rs14bn will fund a 350MW combined-cycle plant and Rs5.5bn will fund a 100MW renewable project with Windforce.
WindForce PLC reported Q1 2024/25 EBITDA up 87% to Rs.1.95 billion, with consolidated revenue rising 28% to Rs.1.56 billion and net profit up 27% to Rs.652 million. The improvement was driven by the commissioning of the 15MW Hiruras wind plant and subsidiary additions, with Solar Universe and Bulathwatte receiving industry awards.
WindForce PLC reported Q1 2024/25 EBITDA up 87% to LKR 1.95bn, revenue up 28% to LKR 1.56bn and net profit up 27% to LKR 652m. Growth was driven by commissioning of the Hiruras 15MW wind plant and the inclusion of Mahoma as a subsidiary, and its subsidiaries won solar/hydro awards.
Windforce PLC completed the Kebithigollewa solar power plant, the first project under the Japan–Sri Lanka Joint Crediting Mechanism (JCM). Japan's ambassador attended the opening and signalled continued support for Sri Lanka's power sector, including yen loans for transmission projects.