Power & Energy · Alternative Power Generation
| Year | Revenue | Net profit | EPS |
|---|---|---|---|
| 2026 | Rs 2.0B | Rs 1.6B | 1.34 |
| 2025 | Rs 1.5B | Rs 322.3M | 0.47 |
| 2024 | Rs 1.5B | Rs 99.7M | 0.12 |
| 2023 | Rs 1.0B | Rs -460.8M | -0.77 |
| 2022 | Rs 935.5M | Rs -167.8M | -0.31 |
| 2021 | Rs 729.1M | Rs 268.3M | 0.38 |
| 2020 | Rs 563.8M | Rs 152.7M | 0.24 |
Panasian Power PLC is a renewable energy producer and independent power producer (IPP) that develops, owns and operates hydro and solar power projects. The Company supplies electricity exclusively to the national grid under long‑term power purchase agreements with the National System Operator (Pvt) Ltd and manages the lifecycle operation of its renewable energy assets. The Company's operational portfolio comprises mini‑hydro, ground‑mounted solar and rooftop solar projects, delivering a diversified generation mix that supports generation resilience and contributes to national energy security. Its project portfolio includes multiple commissioned mini‑hydro and solar plants and is managed alongside plant operations and maintenance activities. In addition to project development and power generation, Panasian Power provides Engineering, Procurement and Construction (EPC) services, enabling end‑to‑end delivery of energy projects with an emerging regional EPC footprint in the Maldives and Bangladesh. The Group's operations are primarily in Sri Lanka, and its strategy integrates climate‑related considerations and ESG oversight into planning and decision‑making.
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HNB General Insurance appointed Lakshman Silva as Non-Executive/Nominee Director and Sandra De Zoysa as Independent/Non-Executive Director to its board. The appointments are intended to strengthen governance and drive digital/CX transformation as the insurer scales its platforms and customer service architecture.
Panasian Power (PAP.N0000) connected its 5MW ground-mounted Baddegama solar plant to the national grid on Dec 30, with its subsidiary starting revenue generation and adding 5MWac/6.76MWp to the grid.
Panasian Power PLC connected a 5 MW (6.76 MWp DC) ground-mounted solar plant at Baddegama to the national grid on 30 December 2025 and has commenced revenue generation via a subsidiary. The plant is the final 5 MW unit under a batch of seven PPAs and the share price closed up Rs.0.40 at Rs.23.40.
Panasian Power (PAP.N0000) connected its 5MW ground-mounted Uda Aparakke solar plant to the Matara Grid Substation on Nov 17 and begins revenue generation, adding 5MWac/6.76MWp to the national grid. It is the sixth of seven 5MW projects the company has PPAs for with the Ceylon Electricity Board.
Panasian Power (PAP.N0000) connected a 5MWac (6.76MWp DC) ground-mounted solar plant at Uda Aparakke to the national grid, starting commercial revenue. It is the sixth 5MW plant under seven PPAs signed in Q3 2024, with one project still under development.
Energy Minister Kumara Jayakody warned that lobbying for higher feed-in tariffs would raise consumer bills, noting solar prices paid to new producers have fallen from 37 → 27 → 24 → 18 rupees. He cited 30% cheaper panels, a stronger rupee, competitive low bids (e.g. Vidullanka ~3.77 USc/kWh) and additional grid/BESS costs.
Panasian Power PLC connected a 5MW ground-mounted solar plant at Deegawapiya, Ampara, to the national grid on 17 October 2025, adding 5MWac/6.76MWp and commencing revenue generation. The project, operated via a Panasian Power subsidiary using Longi Bi-facial N-type 615 W modules, is the fifth 5MW plant connected under PPAs from Q3 2024.
Panasian Power (PAP) connected its 5MW ground-mounted Deegawapiya solar plant to the national grid and said revenue generation starts immediately; the commissioning adds 5MWac/6.76MWp and is the fifth of seven 5MW plants under PPAs with the Ceylon Electricity Board.
Sri Lanka advanced renewables, launching a 250 MW/1000 MWh battery storage tender and clearing funding to integrate rooftop solar and virtual net metering. The government also advanced grid and storage projects and named Delft, Analaitivu and Nainativu as Green Energy Islands. Business groups pressed for policy, grid and pricing reforms. Fuel prices were held steady as CPC absorbed diesel losses.
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