Seylan Bank Finances Phase II of 10 MW Solar Power Project by Windforce and Vidullanka

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 (Pvt) Ltd, a company jointly owned by Windforce PLC and Vidullanka PLC, two of Sri Lanka’s most prominent renewable energy players.

Following the successful commissioning of the 10MW Phase I by Solar Universe (Pvt) Ltd, this new development marks the launch of Phase II, another 10MW solar power project undertaken by Sooryashakthi (Pvt) 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 LKR 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.

Commenting on the project, Ramesh Jayasekara, Director/CEO of Seylan Bank, stated: “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^th of July 2025 in Navatkadu, Batticaloa, under the patronage of Hon. Eng. Kumara Jayakody, representing the Ministry of Energy.

Seylan Bank’s financing of this venture not only highlights its growing portfolio in infrastructure and energy development but also reinforces its strategic focus on empowering future-ready industries through sustainable financial products. The Bank’s expertise in structuring credit solutions for local infrastructure projects has positioned it as a reliable partner for transformative national initiatives.

The project also 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.