Tuesday Apr 28, 2026
Tuesday Apr 28, 2026
Tuesday, 28 April 2026 01:45 - - {{hitsCtrl.values.hits}}
WindForce PLC yesterday said it has secured a loan facility of up to $ 18 million from the World Bank Group’s International Finance Corporation (IFC), in a move expected to strengthen its renewable energy expansion pipeline and funding structure.
The company said its Board, by resolution dated 20 April, approved entering into the loan agreement, structured in two phases.
The first tranche of up to $ 10 million will be utilised to finance WindForce’s equity contribution to a 100MW solar park project in Siyambalanduwa, owned and operated by Rividhanavi Ltd.
The balance facility of up to $ 8 million is earmarked for battery energy storage projects or other eligible renewable energy investments undertaken by the company or its subsidiaries.
The company’s share price ended up Rs. 1.10 at Rs. 48 yesterday. It reported assets of Rs. 18.78 per share as of end-December 2025.
The company reported long- and short-term borrowings of Rs. 8.6 billion and Rs. 2.5 billion, respectively, on a Rs. 43.3 billion asset book as at end-December 2025 with stated capital at Rs. 18.3 billion and retained earnings of Rs. 6.1 billion.
Akbar Brothers Ltd., was the top shareholder with a 36.42% stake followed by Hirdaramani Ltd., (20.63%) and Mona Exports Ltd., (9.33%) and BBH-Tundra Sustainable Frontier Fund (5.21%).
