📈 WindForce Secures US$ 18 Mn IFC Loan for Solar & Battery Storage

WindForce PLC has entered into a loan agreement with the International Finance Corporation (IFC) for a total aggregate of US$ 18 million (LKR equivalent) to accelerate renewable energy expansion. • Funding Allocation: The facility is structured into two strategic phases: Phase 1 (US$ 10 Mn): Financing the equity contribution for the 100MW solar park project in Siyambalanduwa (operated by Rividhanavi Pvt Ltd). Phase 2 (US$ 8 Mn): Dedicated to Battery Energy Storage Systems (BESS) or other eligible sustainable energy initiatives. • Economic Impact: This investment supports Sri Lanka's transition to green energy and diversification of the national power grid. The capital injection into utility-scale solar and storage technology is expected to enhance grid stability and reduce reliance on fossil fuels. • Market Context: As per Colombo Stock Exchange (CSE) disclosures, this material borrowing is anticipated to influence the company’s financial position and share price. The transaction does not fall under the "major transaction" threshold of the Companies Act.