WindForce PLC is the largest renewable energy private sector company in Sri Lanka. The company was incorporated in 2010 and in 2021 was listed on the

Colombo Stock Exchange The Colombo Stock Exchange (CSE) ( si, කොළඹ ව්‍යාපාර වස්තු හුවමාරුව, translit=Kolamba Vyapara Vasthu Huvamaruva; ta, கொழும்பு பங்கு பரிவர்த்தனை) i ...

. The company commission, construct and operate power plants and generate power through

wind Wind is the natural movement of air or other gases relative to a planet's surface. Winds occur on a range of scales, from thunderstorm flows lasting tens of minutes, to local breezes generated by heating of land surfaces and lasting a few ho ...

, solar and

hydropower Hydropower (from el, ὕδωρ, "water"), also known as water power, is the use of falling or fast-running water to produce electricity or to power machines. This is achieved by converting the gravitational potential or kinetic energy of a w ...

History

The company is incorporated in July 2010 and listed on the Colombo Stock Exchange in 2021.

IPO

In 2021, through an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

(IPO), the company was planned to raise up to LKR3.2 billion by offering a stake of 15% in the company. With the capital raised through the IPO the company is planning to build a 15MW wind plant in

Mannar, Sri Lanka Mannar ( ta, மன்னார், translit=Maṉṉār, si, මන්නාරම, translit=Mannārama, formerly spelled Manar) is the main town of Mannar District, Northern Province, Sri Lanka. It is governed by an Urban Council. The town is ...

and a 30MW solar plant with 7.5MW battery storage in Senegal. The company is expected to become the largest renewable energy company, exceeding the second-placed company by over five times. WindForce's IPO was the largest since in 2011 in the Colombo Stock Exchange. It attracted 1,654 applications amounting to LKR25.7 billion, oversubscribing by nearly eight times on the first day of the IPO.

Post-IPO trading

The company declared an interim dividend for the financial year 2021/22, which corresponds to a LKR0.75 dividend per share yielding a 4.75% return. WindForce acquired 33.3% of stake in Solar Universe (Pvt) Ltd, a solar power plant in Vavunathivu. Vidullanka PLC and HiEnergy Services (Pvt) Ltd are the other two stakeholders of the plant and will add 10MW to the National Grid annually. The company acquired a 500 tons per day waste to energy plant from Fairway Holdings, the company acquired 92.5 per cent of the stake. The

plant Plants are predominantly photosynthetic eukaryotes of the kingdom Plantae. Historically, the plant kingdom encompassed all living things that were not animals, and included algae and fungi; however, all current definitions of Plantae exclu ...

is located in Karadiyana, 15km from Colombo. In June 2021, the company received the Cabinet approval to build the planned wind power plants in Mannar.

Operations

The company is an independent power producer with an

installed capacity Nameplate capacity, also known as the rated capacity, nominal capacity, installed capacity, or maximum effect, is the intended full-load sustained output of a facility such as a power station,

of 218

megawatts The watt (symbol: W) is the unit of power or radiant flux in the International System of Units (SI), equal to 1 joule per second or 1 kg⋅m2⋅s−3. It is used to quantify the rate of energy transfer. The watt is named after James Wat ...

. 77% of the effective capacity is based in Sri Lanka and the rest is based in Pakistan, Ukraine and Uganda. The company operates 27 power plants. Seven of the plants are wind power plants while 10 is solar plants and the other 10 are mini-hydropower plants. The company is planned to develop a solar power plant in Cameroon and is looking for opportunities in Bangladesh and Africa.

Wind farms

Solar farms

Hydroelectric power stations

Source: Annual Report 2020/21

References

External links

Official website
{{All Share Price Index 2010 establishments in Sri Lanka Energy companies established in 2010 Renewable energy companies of Asia Companies listed on the Colombo Stock Exchange Electric power companies of Sri Lanka