News & market updates

Sri Lanka expects US$1.1bn in foreign direct investment in 2025, with realized investments up 138% year‑on‑year to September and the largest single realized investment of US$229m from Colombo West International Terminal. BOI approved 104 projects totalling US$1,060m Jan–Sept across sectors including solar, manufacturing, property, telecoms and dairy.

Colombo West International Terminal, a venture including John Keells Holdings PLC, contributed USD 229m to BOI-reported foreign capital inflows of USD 827m in Jan–Sep 2025. BOI said total inflows rose 13.8% y/y and the project pipeline could lift 2025 FDI above USD 1bn.

Sri Lanka's delegation, led by CBSL Governor Nandalal Weerasinghe, secured strong support from the IMF, World Bank and other partners at the 2025 Annual Meetings, with praise for reforms, progress on debt restructuring and reinforced market confidence. Discussions prioritized financing and technical support for infrastructure, energy and digital transformation.

St. Anthony’s Solar was honoured with the “Sustainable Adoption of Renewable Energy Award” at the Sri Lankan Sustainability Awards 2025. The company has installed over 500 solar systems, deployed 100,000+ panels and generated more than 10 MW of clean energy, and plans to scale large-scale projects.

HNB PLC has partnered with Browns EV to provide flexible leasing solutions for Browns electric vehicles, in an agreement formalised on 28 July 2025. The bank will offer tailored leasing options including competitive rates, insurance facilitation and doorstep documentation to support EV adoption.

The International Chamber of Shipping said it was disappointed after IMO member states failed to agree the proposed Net‑Zero Framework — a global shipping carbon‑pricing mechanism — at the MEPC extraordinary session in London, leaving industry uncertainty for decarbonisation investments.

Ceylon Electricity Board will buy electricity discharged from battery storage linked to existing ground-mounted and rooftop solar at Rs.45.80/kWh during night peak (6:30–10:30pm) to promote adoption of battery energy storage systems.

SHPDA's new president Pathmanatha Poddiwala pledged to reset Sri Lanka's small hydro sector, noting it supplies nearly 450 MW to the grid and outlining reforms to address Electricity Act enforcement, unconsented curtailments, PPA terminations and tariff constraints. He urged BESS adoption, strategic planning, wider stakeholder engagement and ties with partners such as the ADB.

Casons Rent a Car has introduced Sri Lanka’s first fleet of eco-friendly vehicles, including fully electric, hybrid and clean-diesel models, and will offer special rental rates; the new fleet will be available at its Gothami Road Rajagiriya office and the BIA airport counter.

Government amends the bonded warehouse scheme to grant duty and tax exemptions for capital goods in priority sectors and adds renewable energy storage as eligible, effective 15 October 2025. Eligible renewable projects must involve ≥1 MW generation or ≥1 MWh storage; covered sectors include dairy, pharmaceuticals, medical equipment, solid waste management and renewable energy.

Eco Check Global Pvt. Ltd. was honoured with the Excellence in Leadership in Environmental Sustainability and Green Innovation award at the Diamond Excellence Awards 2025, received by Himarsha Rajapaksha in Colombo. The Sri Lankan consultancy provides services including carbon credit project development, net‑zero planning, renewable energy and environmental compliance consultancies.

Evolution Auto delivered the first fleet of KYC electric vans in Sri Lanka, handing over eight KYC V7 vans to local businesses. The vans provide zero tailpipe emissions and up to Rs. 100,000 in running-cost savings, targeting logistics, delivery, retail and service firms.

IMF projects global growth at 3.2% for 2025 and warns that trade tensions and China’s slowdown pose downside risks to output. It also raised India’s 2025-26 growth forecast to 6.6% and flagged risks from large subsidies in EV and solar sectors.

John Keells CG Auto says it has established 20 EV charging stations and is investing to expand charging infrastructure, showrooms and after-sales capacity; it opened a Moratuwa showroom and a Wattala service centre and says BYD PHEV deliveries, warranties and parts remain unaffected.

LAUGFS Gas PLC won the World Liquid Gas Association's Marketing Excellence Award 2025 for its 'Triangle of Change' campaign, which included a Cylinder Donation Program distributing over 100 portable 5kg LPG kits. The campaign also featured the short film 'Dara Kadulu' and the 'Little Gas Stars' education programme reaching hundreds of children.

WindForce PLC finalised a Rs. 50 million, 24-year land lease for the 100 MW Rividhanavi Solar Power Project, effective 10 October. The company said all major project agreements, including the PPA, Implementation Agreement and Transmission Development Contract, are now completed.

SLIIT's SICET 2025 concluded after four days, receiving 173 submissions and accepting 102 papers while introducing a 16-paper Industry Track to boost academia–industry R&D. Panels and keynotes prioritized AI/6G, clean energy, healthtech, advanced manufacturing and shared national research infrastructure.

Sri Lanka's 160MW BOO battery storage tender drew many competitive bids (Rs2–3m per MW per month, about Rs17/kWh), with over 90% of bidders using Chinese batteries. Windforce was reported among the lowest bidders and its shares jumped ~26% on speculation.

Colombo Stock Exchange rose 0.23% (ASPI 22,372.57) as WindForce and diversified financials led trading. WindForce leased land for a 100MW solar project and had turnover of 308.9 million rupees; Dialog, HNB and NDB were also top contributors.

WindForce PLC signed a 24-year land lease with the Sri Lanka Sustainable Energy Authority for the 100 MW Rividhanavi solar project (rental LKR 50 million), effective 10 Oct 2025. The company says all key project contracts, including the PPA and transmission contract, are complete.

WindForce PLC signed a 24-year land lease with the Sri Lanka Sustainable Energy Authority for the 100 MW Rividhanavi solar project, with total lease rentals of Rs 50 million and an effective date of 10 Oct 2025. WindForce said all key project contracts, including the PPA, Implementation Agreement and Transmission Development Contract, have been concluded.

Thimark Technocreations (Pvt) Ltd secured a USD 156,000 contract to design, supply, install and commission a movable hydraulic trash rack cleaning machine (KILGHARRAH 600) for Kenya’s KenGen. The firm says the unit is the first of its kind made in Sri Lanka and could open wider African export opportunities.

Lanka Ventures (LVEN.N0000) and LVL Energy Fund (LVEF.N0000) have appointed private equity veteran Nissanka Weerasekera as an Independent Non-Executive Director.

WindForce PLC has acquired a 51% stake in Safe Power International to develop a 10 MW wind project in Alankuda with an estimated cost of Rs. 4.2 billion. The project will be financed 75:25 debt-to-equity and is expected to boost WindForce's generation capacity and future earnings.

Sarvodaya Development Finance (SDF) will host the Global Alliance for Banking on Values Asia-Pacific meeting in Colombo on Oct 15-16 to focus on AI and climate change and their impacts on value-based banking, particularly for SME finance.

Hayleys PLC’s Hayleys Solar was named among Brand Finance’s 100 Most Valuable Brands in Sri Lanka as the only renewable-energy brand on the list. The unit says it is on track to exceed 500 MW of solar installations nationwide by end-2025.

Tokyo Cement Group won two awards at the Sri Lankan Sustainability Awards 2025: Sustainable Innovation for TOKYO SUPERBOND Premium Tile Adhesive (low VOC 5.2 g/L) and Sustainable Construction Project for its Trincomalee Technical Centre (Platinum GREEN Building).

DFCC Bank has partnered with Prime EV Automobiles (Senok Group) to offer tailored leasing packages for premium electric and hybrid vehicles, featuring reduced interest rates, flexible repayment terms and benefits like free registration, complimentary servicing and 0% insurance instalments.