Home / Energy/ HNB’s Corporate Banking’s Project Finance Team arrange finances for Wind Force’s 10 MW Solar Power P

HNB’s Corporate Banking’s Project Finance Team arrange finances for Wind Force’s 10 MW Solar Power P

Comments / {{hitsCtrl.values.hits}} Views / Thursday, 27 July 2017 01:09


_L1A8853-copy Group-pic-copy

HNB Deputy General Manager, Corporate Banking Ruwan Manatunga and HNB Head of Project Financing Business Majella Rodrigo

HNB’s project finance team of their corporate banking division lauded the success of Wind Force Ltd., on completion of their 10 MW Solar Power Project in Vavuniya. Under the name of Vydexa (Lanka) Power Corporation, the solar power project achieved a record breaking commissioning period of just 64 days. 

Majella Rodrigo, head of Project Finance stated that HNB as the largest private bank in Sri Lanka, was proud to be the sole funding partner of this renewable power project. “The focus and relentless commitment by the entire team, through their commitment to green energy concepts and green initiatives makes this project important to us,” he said.

“It is a clear indication of our allegiance to projects of national interest,” Rodrigo went on to note. Commenting further, Rodrigo noted that this is the country’s fifth mega scale solar power project to be commissioned to the national grid and HNB is proud to be the financing partner of two of these significant projects. 

Vydexa (Lanka) Power Corporation is the second Solar Power Project in Sri Lanka to utilise the innovative  ’Single Axis Tilting Facility’ technology, which tracks the movement of the sun to optimise positioning of solar panels.  

DGM Corporate Banking Ruwan Manatunga elaborated that HNB’s corporate banking project finance division has up to now supported over 30 large scale renewable power projects both locally and overseas, amounting to a total capacity of over 110 MW. 

“HNB has continuously been in the forefront of investing in the renewable power sector in Sri Lanka varying from hydro, wind, solar, biomass and is now poised to further develop project investments in the space of ‘solid waste to power’ sector. HNB will continue to lead the market in providing innovative solutions to this vital area of investment and corporate clientele,” Manatunge noted

HNB’s Project Financing business vertical is a total service offering proposition ranging from origination and arrangement, to underwriting and syndication of buy-outs and corporate acquisitions. The Project Financing team has also played a lead role in providing financing solutions for infrastructure projects covering key development projects which includes manufacturing, water purification, healthcare, education, tourism, construction, highways and bridges etc. 

The team’s deep understanding of specialised market knowledge enables them to support clients across all sectors. The ongoing Project Financing lending portfolio is well over Rs. 100 billion, a testament of the bank’s commitment to support the country’s infrastructure and project finance transactions.


Share This Article


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Relevance of brand valuation?

Thursday, 22 November 2018

Another iconic global business leader has been exposed. Greed, both personal and corporate, it seems is the root cause. This mirrors the conduct of many political leaders around the world. Is it time to have much greater checks on CEOs, may be power-

JVP and minorities: Towards a third way

Thursday, 22 November 2018

As Sri Lanka moves toward a political show down between the UNP and SLFP/SLPP traditional political rivals, there is a third force with great potential strength emerging as a decider in any final outcome, provided that force remains united. By this

Reaching global quality standards through Deming Award

Wednesday, 21 November 2018

The importance of quality in the contemporary competitive business environment cannot be over-emphasised. Total Quality Management (TQM)is a company-wide, all pervasive management philosophy, which organisations globally, in many business sectors hav

Ramsar accreditation of Colombo Wetlands: Rebranding Colombo as a Wetland City

Wednesday, 21 November 2018

Colombo, once known to be “kolonthota,” has always been identified as a wetland complex at the heart of the Kelani river delta. Today this city is increasingly drying up, with around 20 sq km left as wetlands which continue to be threatened every

Columnists More