Business
WindForce partners with Vidullanka and HiEnergy to add 10MW solar energy to national grid
WindForce Limited, the latest company to list on the Colombo Stock Exchange, acquired Solar Universe (Pvt) Ltd., which has won a tender to develop a 10MW solar power plant in Vavunathivu.
Solar Universe is owned in conjunction with Vidullanka PLC and HiEnergy Services (Pvt) Ltd., where each of the three shareholders own an equal stake of 33.33%.This latest project will add 10MW Solar PV to the national grid, contributing to 19.70 GWh of power annually, equivalent to 4.9 million liters of oil saved. The estimated cost for the project is Rs. 1.4bn, which will be funded equally by the three shareholders.
WindForce debuted their IPO in March and was oversubscribed almost immediately, receiving applications worth Rs. 26.7 Bn, 7.9 times the offering. The largest IPO on the Colombo Stock Exchange since 2011, WindForce has reserved part of the proceeds for new projects and will use a part for this project.
WindForce is the only energy company in Sri Lanka to have received a AA- (stable) issuer rating by ICRA, the highest rating given to a corporate in Sri Lanka at the time of the issuance. WindForce, alongside HiEnergy and Vidullanka, will use its engineering expertise to design and management of the new power plant, which it hopes to commence construction in Q3 2021.
Sri Lanka’s largest producer of renewable energy, WindForce currently owns and operates 27 power plants both locally and internationally. With the addition of Solar Universe in the portfolio, WindForce’s current installed capacity will be increased to 228MW. The company has been able to effectively grow thanks to its technical expertise and careful selection of energy sources, locations, and tight control over operations and maintenance.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
SLT-MOBITEL Enterprise launches Premium Cloud
SLT-MOBITEL Enterprise, the enterprise services arm of Sri Lanka Telecom PLC, has launched its Premium Cloud service powered by Nutanix, aimed at helping Sri Lankan businesses modernise their IT infrastructure and accelerate digital transformation.
The service was unveiled at the Lanka Tech Summit 2026 held recently at ITC Ratnadipa, Colombo.
The Premium Cloud combines hybrid multi-cloud capabilities with enterprise-grade performance, enabling businesses to run mission-critical workloads, scale cloud deployments and strengthen business continuity through disaster recovery capabilities.
Hosted on SLT-MOBITEL’s Tier III data centre infrastructure, the platform is designed to provide enhanced security, reliability and flexibility while supporting the growing technology requirements of enterprises.
SLT-MOBITEL Enterprise said the platform would also support organisations seeking to adopt AI-ready capabilities and improve the management and performance of IT workloads.
A key feature of the launch was SLT-MOBITEL Enterprise joining the Nutanix Elevate Service Provider Program (NESPP), which the company said made it the first service provider in the region to join the programme.
Powered by Nutanix’s hybrid multicloud platform, the service enables application and data mobility across on-premises environments, public clouds and edge locations.
The company said the partnership combined Nutanix’s cloud technology with SLT-MOBITEL’s local expertise and support, strengthening its multi-cloud portfolio.
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