Four project companies in which Vidullanka PLC holds equity have submitted winning bids to build 18.7 megawatts and 93 megawatt-hours of battery energy storage at solar plants already operating on the national grid, the company told the Colombo Stock Exchange.
Vidullanka’s estimated share of the equity investment is about Rs. 600 million, EconomyNext reported, a figure the company said could change once the final capital structure is settled. It will be funded mainly from cash generated by the existing solar operations, alongside debt raised at each project company.
The four projects
| Company | Vidullanka stake | Capacity |
|---|---|---|
| Solar Universe (Pvt) Ltd | 50% | 4.9 MW / 25 MWh |
| Sooryashakthi (Pvt) Ltd | 50% | 4.9 MW / 25 MWh |
| DPV Solar Energy (Pvt) Ltd | 50% | 4.9 MW / 25 MWh |
| VidulSolar (Pvt) Ltd (Madampe) | 100% | 4.0 MW / 18 MWh |
On those shareholdings, Vidullanka’s proportionate share works out to roughly 11.4 MW and 55.5 MWh, the Daily FT reported.
The systems will be built on a Build, Own and Operate basis over a 15-year operational term, bolted on to ground-mounted solar plants already generating.
“Retrofitting battery storage to existing operational ground-mounted solar facilities will optimize solar power evacuation, reduce energy curtailment, and provide grid stabilization benefits,” the company said.
Part of a 150MW tender — and don’t add the two announcements together
The bids were placed under a National System Operator tender for 150 MW / 600 MWh of storage integrated with existing ground-mounted solar plants of between 1 MW and 10 MW. The tender closed on 24 September, the Daily Mirror reported.
WindForce PLC announced winning bids for 28.25 MW / 143.75 MWh last week. The two totals cannot simply be added: Solar Universe and Sooryashakthi are owned by WindForce and Vidullanka on a 50:50 basis and appear in both companies’ filings. Stripping the overlap, the eight distinct ventures account for 37.15 MW and 186.75 MWh — just under 25% of the tender’s power capacity and about 31% of its storage capacity. Combined equity commitment is roughly Rs. 1.54 billion.
Vidullanka was the only one of the two to disclose its tariff bids, which ranged from Rs. 24.88 per kWh for Solar Universe to Rs. 27.96 per kWh for the wholly owned VidulSolar plant at Madampe — a spread of about 12%. The two jointly owned ventures offered the lowest rates; the capacity-weighted average across the four bids was Rs. 26.38 per kWh.
Not yet awarded
Both companies cautioned that winning bids are not contract awards. The projects still require formal Letters of Award, regulatory approvals and definitive agreements, including supplementary agreements to the existing power purchase agreements. Vidullanka said it would disclose further once awards are received and final contracts signed.
The two firms have partnered on storage before: in February the Ceylon Electricity Board issued WindForce Letters of Award for 12 standalone storage projects totalling 120 MW, one of which — a 10 MW facility at Vavunathivu — is being developed jointly with Vidullanka.
Context
Storage is the government’s stated answer to solar curtailment, the practice of ordering output down when midday generation exceeds what the grid can absorb. Sixteen battery facilities were commissioned at Galle earlier this month, and the Energy Minister has rejected industry claims that rooftop solar is being throttled.
