Vidullanka and WindForce lead US $ 21bn battery storage rollout under CEB initiative

The Ceylon Electricity Board (CEB) yesterday awarded contracts to Vidullanka PLC and WindForce PLC to develop standalone battery energy storage system (BESS) projects, marking a significant step in Sri Lanka’s first-ever grid-scale BESS initiative.

More than 35 power companies had applied for the first-time tender issued in October 2025. 

Vidullanka confirmed in a disclosure to the Colombo Stock Exchange that it received a Letter of Award on February 16, for a 10MW/40MWh BESS facility in Vavunathivu. 

The project will be developed through a consortium with WindForce, under a build, own and operate (BOO) model, with a 15-year operating contract. Total project financing is expected to follow an 80:20 debt-to-equity structure, with Vidullanka holding a 50 percent stake in the venture.  



The company described the award as price-sensitive, highlighting it as a strategic entry into the standalone energy storage sector, expected to provide a steady revenue stream and support greater integration of renewable energy.

Meanwhile, WindForce announced that it secured Letters of Award for 12 BESS projects through international competitive bidding. Collectively, these facilities will add 120MW/480MWh of storage capacity, with a total investment value of Rs.20.79 billion. 

Eleven of the projects will be fully owned and developed by WindForce, while the Vavunathivu facility will be jointly developed with Vidullanka. All projects will operate under the BOO model for 15 years, with financing structured on an 80:20 debt-to-equity basis.

The CEB’s initiative aims to enhance national grid stability and facilitate greater renewable energy integration. Both companies noted that while the awards are confirmed, the projects are subject to execution of formal agreements, final awarding procedures and regulatory approvals.