WindForce PLC achieved a significant milestone by officially signing the Power Purchase Agreement (PPA) for the development of the 10MW Kebitigollewa Solar Power Project.
This momentous event marked the commencement of the project and was attended by key stakeholders, including N.S. Ilangakoon, Chairman of the Ceylon Electricity Board (CEB), Manjula Perera, Managing Director of WindForce PLC, and Lasith Wimalasena, Chief Executive Officer of WindForce PLC.
WindForce PLC’s acquisition of a 92% stake in Kebitigollewa Solar Power (Private) Limited represents a major leap forward in Sri Lanka’s solar energy landscape. The total investment for this groundbreaking project is estimated at around LKR 2.7 billion, with a projected Equity Internal Rate of Return (EIRR) exceeding 15%. Project development is already underway, with completion expected by July 2024.
Manjula Perera, Managing Director of WindForce PLC, expressed, “This acquisition and the subsequent development of the Kebitigollewa Solar Power Project indicate a significant achievement for WindForce PLC. We remain steadfast in our commitment to promoting renewable energy adoption in Sri Lanka and supporting the country’s sustainable growth. This project exemplifies our dedication to clean energy and our determination to contribute to a greener and more environmentally conscious future”.
In addition to generating clean energy, the Kebitigollewa Solar Power Project will create job opportunities and stimulate economic growth in the Anuradhapura District. WindForce PLC is devoted to collaborating closely with local communities and authorities to ensure the successful and sustainable implementation of this initiative.