PANASIAN POWER PLC MAKING THE ENERGY SECTOR GREENER BY THE DAY TOGETHER WITH SUNGROW

SUNGROW, the global leader in solar inverters and energy storage systems, commemorated the Sri Lankan market launch of SUNGROW Energy Storage Systems with their main channel distribution partner, PANASIAN POWER PLC. This historic event unfolded on the 28th of May, at Cinnamon Life - City of Dreams, in front of all the major stakeholders and companies in the energy field in Sri Lanka.

Speaking to the media after the event, the CEO of Panasian Power PLC, Mr. Pathmanatha Poddiwala highlighted the following: “We are proud to launch Sungrow Energy Storage Systems and Hybrid inverters into the Sri Lankan market. Having been Sungrow’s main distribution partner since the last decade, we can now cater to our customers Sungrow’s all-round solar solutions of PV String Inverters, Hybrid Inverters, Residential Batteries, Utility Scale Battery Energy Storage systems, and all servicing & after-sales requirements. The new Energy Storage Solutions launched by Sungrow will be key in carrying Sri Lanka towards their next big step in the green revolution”.

This resourceful business relationship between SUNGROW and PANASIAN POWER PLC first started back in 2018 and has grown from strength to strength. Having installed Sungrow inverters in their own ground mounted projects, Panasian Power swiftly recognized the high quality and performance of Sungrow inverters. Sungrow at that time was also looking at a suitable reputed renewable energy company in Sri Lanka to become their main channel partner, and they too realised the capacity and professionalism of Panasian Power. This mutual respect and understanding soon led to the initiation of Panasian Power PLC becoming Sungrow’s first and exclusive channel distribution partner in Sri Lanka.

As a leading renewable energy solutions provider in Sri Lanka, PANASIAN POWER PLC brings you a wide range of inverters and battery systems to satisfy the energy demand of this fast-paced world. As the main authorized channel partner of SUNGROW inverters and battery systems in Sri Lanka, PANASIAN POWER PLC has marked a track record for delivering technologically advanced green energy products. SUNGROW inverters were ranked most bankable globally by Bloomberg NEF since 2019 and are the number 1 supplier for financed projects thanks to its high performance, superior technical features and strong operational metrics.

YOUR POWER OUR RESPONSIBILITY

At Panasian Power PLC, we believe in the power of nature to fuel our future. Drawing inspiration from the sun’s radiant energy and the earth’s enduring strength, we harness renewable resources to create sustainable energy solutions that illuminate homes, power industries and nurture our planet. Our mission is simple yet profound: to lead the transition towards a cleaner, greener and more resilient energy landscape. By integrating cutting edge technology with a deep respect for nature, we provide innovative solutions that not only meet today’s energy demands but also safeguard the environment for generations to come.

Panasian Power PLC (PAP), is one of Sri Lanka’s pioneers in supplying clean and renewable energy and is considered to be a leader in the renewable energy industry, operating mini-hydro, ground and rooftop solar plants. We are renowned for affordable, sustainable and reliable clean energy solutions, creating a greener and sustainable future. Our projects support the solutions that reduce carbon emission, enhance energy security and promote economic prosperity as we build, own and operate renewable energy projects as an independent power producer and project developer. We are currently working towards achieving 60 MW of generation capacity, reinforcing our commitment to sustainable energy. As the channel partner for SUNGROW inverters and LONGI solar panels in Sri Lanka, we strive to deliver high-efficiency energy conversion in our solar installations, to meet an exponential growth in demand for clean energy.

As a power generation company, sustainability is a fundamental pillar of our long-term strategy, reflecting a commitment to responsible production of clean and green energy. We recognize that sustainable growth is essential for building resilience, creating long-term value and contributing to a more environmentally and socially conscious future. Our governance framework is founded on sustainability principles that cohesively flow through our operations.

SUNGROW: CLEAN POWER FOR ALL

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 28 years. As of December 2024, Sungrow has installed 740 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the world’s most bankable energy storage company (Bloomberg NEF). Its innovations power clean energy projects in over 180 countries, supported by a network of 490 service outlets guaranteeing excellent customer experience. Sungrow, together with Panasian Power PLC, are committed towards achieving a sustainable future through cutting-edge technology and unparalleled service.

GLOBAL CLIMATE CHANGE INITIATIVES

These initiatives focus on reducing greenhouse gas emissions, promoting sustainable development and increasing resilience to the effects of climate change.

Here are some key global initiatives:

• The Paris Agreement (2015)

Limit global warming to well below 2°C above pre-industrial levels, ideally 1.5°C.

• United Nations Framework Convention on Climate Change (UNFCCC)

Provide a platform for international climate negotiations, including the Kyoto Protocol and Paris Agreement Intergovernmental Panel on Climate Change (IPCC)

Provides scientific assessments on climate change, its impacts and potential adaptation/mitigation strategies.

• Net Zero Pledges

Many have pledged to reach net zero emissions by mid-century (e.g., EU by 2050, China by 2060, India by 2070).

• Green Climate Fund (GCF)

Help developing countries finance climate adaptation and mitigation projects.

• RE100 and Corporate Initiatives

A global initiative of companies committed to 100% renewable electricity.

• Climate Adaptation and Resilience Programs

Building infrastructure and community capacity to withstand climate impacts like sea-level rise, extreme weather and droughts.

• Carbon Markets & Pricing

Emissions Trading Systems like the EU ETS and Imposing taxes on carbon emissions to incentivize reduction.

OUR SOLAR & HYDRO PROJECTS

Panasian Power PLC currently boasts of 23.3Mw of solar & hydro project capacities Island wide with a substantial number to be added this year. In this year’s pipeline, Panasian Power PLC is set to add 35Mw in ground mounted solar capacity with seven 5Mw each projects completed or nearing completion in Anuradhapura, Maho, Kurunegala, Ampara, Hiyare - Galle, Baddegama - Galle, and Matara. Also in the pipeline are a 3Mw Mini-Hydro Power Plant in Padiyapelella and a 2.5Mw in Lower Kotmale.

These past few years have been a really crucial and challenging time for the Panasian Power PLC workforce. But, with the proper guidance, starting with our multi-talented CEO Mr. P. K. Pathmanatha, Panasian Power PLC employees were able to overcome any barriers, challenges, inconveniences, and were able to successfully complete these new ground mounted solar projects in a timely manner. These new projects will add on average around 200,000 units of renewable energy to the national grid every day, thus reducing the carbon footprint as well as reducing reliance on high-cost diesel power plants. In 2025 alone, we have increased our own renewable energy capacity by 150%, thus making Panasian Power PLC one of the major players in Sri Lanka’s renewable energy sector.

OUR COMMITMENT TOWARDS THE ENVIRONMENT

Panasian Power PLC operates an integrated model, managing all stages from development to construction, operation, and energy management. As the leading renewable energy solutions provider in Sri Lanka, our commitment to sustainability and innovation has gained us high visibility and brand reputation that underpins our success to deliver clean and sustainable energy.

For this last financial year of 2024/25, Panasian Power PLC had generated 58,364,310 Kilowatts of clean energy for the national grid. In terms of CO2 gas avoided, the number stands at a staggering 43,556 Metric Tons just this last financial year. This also constitutes 3,266,775 trees saved.

OUR AWARDS FOR 2024

• TAGS Awards 2024 – Power and Energy Sector

Bronze Award by the Institute of Chartered Accountants of Sri Lanka.

• CMA Excellence in Integrated reporting Awards - 2024

Certificate of Compliance by the Institute of Certified Management Accountants of Sri Lanka.

• South Asian Federation of Accountants - Power and Energy Sector

Merit Award for Best Presented Annual Report, Integrated Reporting Awards and SAARC anniversary awards for Corporate Governance Disclosure 2023.

• Leadership Awards 2024

Business Excellence Awards – Solar Company of the Year – Inverter

Technology and Innovation Excellence Awards – Outstanding Product Innovation of the Year

• ISO 14001:2015 Environmental Management System

• ISO 45001:2018 Occupational Health and Safety Management System

OUR COMMITMENT TO SUSTAINABILITY

Minimizing environmental and social impacts by integrating advanced technologies and practices to achieve optimal energy production is the foundation for sustainable power generation. In doing so, we ensure that the people, the planet and prosperity for all is captured and embodied in our overall operations.

As a leading supplier of clean, renewable energy and to achieve the objectives of sustainability, we leverage renewable energy sources such as solar and hydropower, combing through cutting-edge systems for carbon capture and storage. Our mini hydro and solar photovoltaic installations help in reducing emissions and improving resource utilization. By adopting these measures, we align our operations with global sustainability goals, ensuring reliable power delivery and long-term ecological balance and empower communities with renewable energy and contribute to a greener future.