Sri Lanka’s Vidullanka submits winning bids for 18.7MW battery storage projects

ECONOMYNEXT — Sri Lanka’s Vidullanka PLC said project companies in which it holds equity have submitted winning bids to establish 18.7 MW/93 MWh of battery energy storage systems (BESS) integrated with existing ground-mounted solar power plants.

The projects will be developed on a build, own and operate (BOO) basis for a 15-year operational term, the company said in a market filing.

Vidullanka’s estimated share of equity investment across the four projects is around 600 million rupees, which remains subject to adjustments based on the final capital structure and cost refinements.

The investment will be funded mainly through internal cash generation from solar operations alongside project-level debt financing.

“Retrofitting battery storage to existing operational ground-mounted solar facilities will optimize solar power evacuation, reduce energy curtailment, and provide grid stabilization benefits over the 15-year power purchase operational window,” the energy firm said.

The ventures include three 4.9 MW/25 MWh installations through Solar Universe (Pvt) Ltd, Sooryashakthi (Pvt) Ltd, and DPV Solar Energy (Pvt) Ltd, in which Vidullanka holds a 50 percent stake each. A fourth project, VidulSolar (Pvt) Ltd at Madampe, is wholly owned by the firm and accounts for 4.0 MW/18 MWh of storage capacity.

Final documentation and official clearances before work can proceed are pending.

“While the bid prices submitted by these project companies fell within the winning evaluation threshold, the formal securing and award of the projects remain subject to the receipt of formal Letters of Award, regulatory approvals, and the execution of definitive project agreements.”

Further announcements will be made once formal awards and definitive contracts are finalized, the company said. (Colombo/Sep28/2026)