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WindForce partners with Vidullanka and HiEnergy to add 10MW solar energy to national grid

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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.



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Smart measures to combat corruption urgently needed: Dr. Rohan Pethiyagoda

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Dr. Rohan Pethiyagoda

By Ifham Nizam

The government should adopt smarter preventative measures to combat corruption and protect public resources, urged Dr. Rohan Pethiyagoda, a well-respected authority on governance and corruption.

He stressed the importance of proactive reforms in governance and procurement systems, advocating for greater transparency and fairness in public sector dealings.

In thought-provoking comments made while delivering the prestigious S R Kottegoda Oration recently Pethiyagoda, known for his insightful critiques of governance, laid bare the complex, multifaceted nature of corruption that hampers the nation’s progress, stressing the urgent need for systemic reforms to address the issue.

He explained the deep-rooted issues of systemic corruption in Sri Lanka, particularly within the country’s infrastructure projects and regulatory frameworks.

Pethiyagoda began by examining the nature of corruption, which he argued extends far beyond bribery to include monopolistic practices, procurement irregularities and inefficiencies caused by bureaucratic mismanagement.

Pethiyagoda added: ‘A prime example is the longstanding contract between Sri Lankan Airlines and Airbus, a deal that effectively locked the national carrier into an arrangement with limited competition, notably from Boeing. Despite evidence of bribery and the subsequent four-billion-dollar fine levied by the European Union, the Sri Lankan government failed to secure any restitution from the scandal.

‘There are also the dangers posed by monopolies and regulatory malpractices. A case of corruption is the recent agreement with VFS Global—a private company handling electronic travel authorizations. There was an exorbitant fee structure in the deal. As a result, funds meant for Sri Lanka were being siphoned off overseas, further draining the nation’s resources.

Pethiyagoda also scrutinized the country’s procurement systems, particularly pointing out how tenders are often rigged through fixed specifications that favor certain companies. “In technical specifications, minor adjustments can disqualify major manufacturers, essentially ensuring that only the bribing companies win the contract, he explained.

A particularly startling example he raised was the controversial wind power deal awarded to the Adani Group of India. According to Pethiyagoda, the Sri Lankan government paid an inflated price for wind power, which would lead to an additional cost of USD 1.35 billion over 20 years, compared to a much more affordable local tender.

“The government creates regulatory barriers that fuel corruption, he added. “Take the National Medicines Regulatory Authority (NMRA), for example. Delays in approving medical equipment parts not only waste resources but cause unnecessary suffering and even deaths.”

Pethiyagoda contended that the failure to tackle corruption lies not only with individual politicians but with the country’s broken systems. He stressed that while political leadership may strive for integrity, these efforts are insufficient unless systemic reforms are introduced. “Corruption cannot be tackled with crime and punishment alone,” he said. “We need to proactively identify and stop corruption before it even occurs.”

Drawing from his own experiences, Pethiyagoda recounted a personal incident during his tenure as a youthful director of biomedical engineering at the Ministry of Health in Sri Lanka. He shared a disturbing example of how radiographers at the National Cancer Institute had misused cobalt radiation therapy machines to irradiate gemstones instead of treating patients, which led to innocent people being misled. Despite a prosecution, the case ultimately fell apart due to legal loopholes, highlighting how corruption in Sri Lanka often slips through the cracks of the legal system.

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Ideal Motors confident Mahindra’s ‘premium’ SUVs will be well received

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Car enthusiasts view Mahindra’s premium SUVs, at the Colombo Motor Show held recently

Mahindra & Mahindra Ltd., a global leader in the automotive industry, recently unveiled its SUV range and the all-new “Twin Peaks” visual identity at the Colombo Motor Show.

Representing a dynamic and adventurous spirit, the new logo reflects Mahindra’s focus on crafting premium SUVs that resonate with customers seeking both luxury and authenticity.

Nalin Welgama, Chairman, Ideal Motors, said, “We are delighted that Mahindra unveiled its new visual identity and flagship SUVs at the Colombo Motor Show. These SUVs showcase contemporary design, cutting edge technology and luxury features. I am sure these vehicles will be well received by Sri Lankan customers”.

“The market launch and commencement of sales are contingent upon the government’s timeline for lifting import restrictions. The pricing details will be announced closer to the market launch, considering the duties, taxes, and exchange rates applicable at the time”, company sources said.

Meanwhile, Mahindra reaffirmed its commitment to its Small Commercial Vehicle portfolio, emphasising that the City Pikup will continue to be on sale under its existing brand identity with the “Road Ahead” logo.

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Strengthening Sri Lanka’s retail future through loyalty and innovation

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Left to right: Hemaka Balasuriya – Vice President, Customer Interaction Channels & Experience Management, Dialog Axiata PLC; Muditha Premarathne – Vice President, Digital Platforms and Partnerships, Dialog Axiata PLC; Ayomal Gunasekera – Assistant Vice President, Group Loyalty and Club Vision, Dialog Axiata PLC; Sandra De Zoysa – Group Chief Customer Officer, Dialog Axiata PLC; Charitha Subasinghe – President, Sri Lanka Retailers’ Association (SLRA); Kumar de Silva – General Secretary, SLRA; and Shabier Subain – Council Member, SLRA.

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has joined hands with the Sri Lanka Retailers’ Association (SLRA) to transform the retail landscape. This collaboration reflects the shared vision of both organisations to enhance the retail experience and foster deeper connections between retailers and their customers.

Dialog Star Points, Sri Lanka’s largest and globally recognised loyalty program with over 10 million customers, serves as the cornerstone of this partnership. The platform enables retailers to reward their loyal customers, helping businesses strengthen relationships and boost customer engagement and retention. The WOW SuperApp further complements this partnership by seamlessly integrating digital and in-store experiences, offering retailers and consumers a unified platform that simplifies shopping and drives digital transformation.

Commenting on the collaboration, Sandra De Zoysa, Group Chief Customer Officer of Dialog Axiata PLC, said, “Our collaboration with the Sri Lanka Retailers’ Association represents a significant step forward in elevating the retail experience in Sri Lanka. By combining Dialog’s technological expertise with the retail insights of the SLRA, we are paving the way for a more innovative, customer-focused future for the retail sector.”

Charitha Subasinghe, President of the Sri Lanka Retailers’ Association, added, “We believe that this coalition marks a transformative moment for Sri Lanka’s retail sector. By harnessing Dialog Axiata’s technological prowess, we aim to create a more engaging and efficient shopping experience that meets the needs of today’s consumers while driving growth for retailers across the nation.”

This alliance represents a pivotal step in building a resilient retail ecosystem that benefits retailers, consumers, and service providers across Sri Lanka.

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