Monday Sep 28, 2026
Monday Sep 28, 2026
Monday, 28 September 2026 05:03 - - {{hitsCtrl.values.hits}}
Four project companies in which renewable energy firm Vidullanka PLC holds stakes have submitted winning bids to add battery energy storage to their existing solar power plants. Vidullanka’s share of the equity investment is estimated at about Rs. 600 million.
Vidullanka said the bids fell within the winning threshold in a competitive tender for Battery Energy Storage Systems (BESS). BESS are large batteries that store electricity for release later. The systems will be integrated with existing ground-mounted solar photovoltaic (PV) plants and developed on a Build, Own and Operate (BOO) basis for 15 years.
The four projects have a combined capacity of 18.7 MW and 93 MWh. The MW figure is the maximum power the batteries can deliver at any moment, and the MWh figure is the total energy they can store.
Solar Universe Ltd., Sooryashakthi Ltd., and DPV Solar Energy Ltd., each 50% owned by Vidullanka, were allocated 4.9 MW/25 MWh apiece. Wholly owned VidulSolar Ltd., which operates the Madampe solar plant, was allocated 4 MW/18 MWh. Based on those stakes, Vidullanka’s proportionate share is about 11.4 MW/55.5 MWh.
The company said its estimated Rs. 600 million equity share for developing and building the four projects could change depending on the final capital structure and cost refinements. It will be funded mainly from cash generated by the solar projects and any progressive capital allocations, alongside debt financing at the level of each project company.
Adding battery storage to the operating solar plants will improve the transfer of solar power to the grid and reduce curtailment, meaning cuts in output when the grid cannot absorb all the power generated. It will also help stabilise the grid over the 15-year power purchase period.
The awards are not yet final. They still require formal Letters of Award (LOAs), regulatory approvals, and definitive agreements with the relevant authorities, including supplementary agreements to the existing power purchase agreements. The company said the announcement should not be read as final confirmation of contract awards.
The company considers this development to be price-sensitive information relevant to its future operational expansion and financial outlook, Vidullanka said, adding that it would make further disclosures once LOAs are received and final contracts signed.
