Hayleys unit inks PPA for US $ 50mn Mannar wind power project

Haywind One Limited, a unit of Hayleys PLC, has signed a power purchase agreement (PPA) with the Ceylon Electricity Board for a 50 MW wind power project located in Mannar.

In a corporate disclosure to the Colombo Stock Exchange on June 5, 2025, the company stated that the total investment in the project by Haywind One Limited would be approximately US $ 50 million.

The agreement was signed on May 28, 2025. The project will be executed under a build, own and operate model.

Haywind One Limited is a fully-owned subsidiary of Hayleys Fentons Limited, which is a subsidiary of Hayleys PLC.

According to the disclosure, signed by Group Chief Financial Officer Milinda Hewagama, the project has reached a definitive stage with the execution of the PPA. The anticipated completion period is approximately 18 months from the date the agreement was executed.