By Ifham Nizam

National Transmission Network Service Provider (Pvt) Ltd. (NTNSP), has secured third place in Sri Lanka’s fiercely contested 160 MW/640 MWh Battery Energy Storage System (BESS) tender, beating a number of established private-sector energy players in a major competitive procurement exercise just six months after the restructuring of the Ceylon Electricity Board (CEB).

The result marks a significant early indication that a newly restructured CEB successor company can compete on a commercial footing with established players in the rapidly expanding energy market, Senior Engineer Pubudhu Niroshan told The Island Financial Review.

More significantly, Niroshan said NTNSP’s entry into the tender helped intensify competition and contributed to a roughly 10% reduction in the lowest bid compared with the previous 160 MW/640 MWh BESS procurement, potentially delivering a more favourable outcome for electricity consumers.

“Entering such a highly competitive bidding process within just six months of restructuring and emerging third is by no means an easy task, Niroshan said.

He said the achievement had to be viewed in the context of the calibre and number of competitors involved in the process, adding that NTNSP had demonstrated that a successor company emerging from the CEB restructuring could step into a competitive commercial environment and hold its own against established businesses.

The significance of NTNSP’s participation, however, extended beyond its third-place ranking.

According to Niroshan, the company’s decision to enter the BESS procurement created an additional layer of competition, forcing other bidders to sharpen their commercial offers.

‘The first and second-ranked bidders had NTNSP as another competitor. That itself created additional competitive pressure, he said.

The BESS procurement involved a total capacity of 160 MW/640 MWh, with the programme divided into individual projects.

The procurement was designed to bring private and other eligible project proponents into the development and operation of battery storage facilities, providing an important mechanism for integrating renewable energy and strengthening the electricity system.

The outcome, he said, was particularly important for electricity consumers because greater competition in procurement could ultimately translate into lower costs for the power system.

‘Once you have several serious players competing, offering a fair and competitive price becomes essential. That is ultimately good for the consumer, he said.

Niroshan also referred to concerns previously raised by NTNSP before the Public Utilities Commission of Sri Lanka (PUCSL) regarding prices submitted for BESS projects under the Feed-in Tariff (FiT) mechanism.

He said subsequent market developments had provided support for the view that some of the prices submitted under the FiT mechanism were comparatively high.

For Niroshan, the experience also demonstrated why competition must remain at the heart of the restructuring of the electricity sector.

Serendib Flour Mills continued its longstanding commitment to rural communities through the fifth edition of Serendib Uththama Dalada, more than 100 elderly mothers and fathers from remote farming communities to experience the sacred Sri Dalada Perahera in Kandy.

Held on 26 August 2026, the initiative brought together elderly parents from Mahalakotuwa, Elahera and Attanakadawala, many of whom have spent a lifetime engaged in agriculture and contributing towards sustaining communities across the country. For these elders, the initiative offered an opportunity to undertake a deeply meaningful spiritual journey and witness one of Sri Lanka’s most revered religious and cultural traditions.

Conducted under the campaign thought, “Nourishing the hearts of elderly parents with spiritual merits, who once nourished a generation,” Serendib Uththama Dalada recognises the lifelong contribution and sacrifices of farming mothers and fathers while creating an experience that may otherwise remain beyond their reach.

Serendib Flour Mills facilitated the entire journey, providing safe and comfortable return transportation to Kandy aboard three dedicated buses. Special arrangements were also made to enable the participants to worship at the Sri Dalada Maligawa, followed by reserved seating at a specially erected VIP stand, allowing them to comfortably witness the grandeur of the Dalada Perahera.

Siyapatha Finance PLC, the largest fully-owned finance company of the Sampath Bank Group, delivered an exceptional financial performance for the six months ended 30 June 2026, reflecting the Company’s continued strategic growth initiatives, resilient asset quality, and unwavering commitment to sustainable value creation.

The Company recorded a profit after tax (PAT) of Rs. 1,007 million, a robust 43 percent increase from Rs. 706 million in the corresponding period of 2025, while profit before taxes (PBT) grew 38 percent to Rs. 2,334 million from Rs. 1,689 million, demonstrating sustained market and customer confidence in the Company’s core operations.

“Our performance in the first half of 2026 is a clear reflection of Siyapatha Finance’s strategic foresight and our unwavering commitment to sustainable growth,” said Siyapatha Finance Chief Executive Officer Mathisha Hewawitharana. “Surpassing the Rs. 104 billion mark in total assets while significantly improving our asset quality underscores the strength of our core operations and the deep trust our customers place in us. As we navigate the evolving macroeconomic landscape, we remain focused on prudent risk management and delivering enhanced value to our stakeholders.”

The Company’s core business operations continued to yield strong returns, with total interest income growing to Rs. 7,719 million from Rs. 5,272 million a year earlier, driving net interest income up to Rs. 3,487 million from Rs. 2,629 million, signifying the Company’s efficient management of assets and liabilities. Other income strengthened to Rs. 1,054 million from Rs. 826 million, reinforcing the effectiveness of the Company’s revenue diversification strategy. The cost-to-income ratio improved to 49 percent from 54 percent, a testament to the Company’s continued focus on operational efficiency and process optimization.

Asset quality strengthened markedly during the period, underscoring the success of Siyapatha Finance’s prudent credit risk management and proactive recovery initiatives. The gross stage 3 loans ratio improved to 4 percent from 8 percent a year earlier, while the net stage 3 loans ratio declined to 2 percent from 3 percent.