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WindForce withdraws Rs 4 b green bond application

Renewable energy firm WindForce PLC has officially notified the Colombo Stock Exchange (CSE) of its decision to withdraw its initial listing application for a proposed Rs 4 billion Green Bond issue, pointing to unfavourable broader market dynamics.

In a corporate disclosure submitted on Monday (28), the company announced that it will not proceed with the debenture offering due to “prevailing adverse market conditions”.

The withdrawal follows an earlier disclosure dated 2 April 2026, in which WindForce PLC’s Board of Directors to resolved issue up to 40 million Listed, Rated, Senior, Unsecured, Redeemable Green Bonds with a total value of up to Rs 4,000,000,000 (Sri Lankan Rupees Four Billion), subject to regulatory approvals.

At the time of the original announcement, details regarding the bonds’ tenure, interest rates, and specific characteristics were expected to be announced in due course. However, changing macroeconomic conditions have led the board to shelve the issuance prior to market placement.