Thursday Oct 02, 2025
Thursday Oct 02, 2025
Wednesday, 24 September 2025 00:10 - - {{hitsCtrl.values.hits}}
Seylan Bank PLC recently announced its role as the sole financing partner for the 10 MW ground-mounted solar power plant in Navatkadu, Batticaloa, promoted by Sooryashakthi Ltd., a company jointly owned by Windforce PLC and Vidullanka PLC.
Following the commissioning of the 10 MW Phase I by Solar Universe Ltd., this new development marks the launch of Phase II, another 10 MW solar power project undertaken by Sooryashakthi Ltd., further contributing to the country’s renewable energy expansion initiative. Seylan Bank renewed its position as the exclusive financier of Phase II, providing a tailor-made project financing facility package of Rs. 3.5 billion under an Islamic banking structure to cover both Phases of the project.
The plant was constructed on privately owned land adjacent to the first Phase and contributes directly to Sri Lanka’s national grid with clean energy. This new capacity strengthens the nation’s transition to renewable sources while supporting the national agenda on energy independence and environmental sustainability.
Seylan Bank Director/CEO Ramesh Jayasekara said: “In joining hands with Windforce and Vidullanka, we aimed to further the development of Sri Lanka’s green energy infrastructure. Our goal is to renew and reaffirm our commitment to the country’s national sustainability goals, by offering innovative project financing solutions.”
The official opening ceremony of the project took place on the 26 July 2025 in Navatkadu, Batticaloa, under the patronage of Eng. Kumara Jayakody, representing the Ministry of Energy.
The project reflects the strength of collaboration between the private sector and financial institutions in accelerating Sri Lanka’s transition to renewable energy. The joint ownership of the project by Windforce and Vidullanka ensures a strong technical and operational foundation, further securing the project’s long-term viability and impact.
The power plant is expected to significantly reduce carbon emissions while meeting the energy demands of thousands of households across the region. It represents a progressive approach to development that aligns with global environmental goals and local energy needs.
