WindForce PLC reported consolidated revenue of Rs. 5.61 billion for the six months ended 30 September 2026, up from Rs. 4.68 billion a year earlier, with profit after tax reaching Rs. 1.86 billion against Rs. 1.77 billion, the Daily FT reported. Gross profit was Rs. 3.21 billion.

The renewable energy developer received the first $5 million tranche of an $18 million facility from the International Finance Corporation during the period.

Curtailment losses unrecovered

The results came despite renewable energy curtailments that cost an estimated Rs. 193.57 million in forgone revenue over the half year.

The Public Utilities Commission of Sri Lanka has approved a compensation methodology and directed the National System Operator to compensate generators at applicable energy purchase tariffs, but the company said discussions remain ongoing and both the timing and the recovery of compensation are uncertain.

Battery storage rollout

WindForce commissioned its 10 MW/40 MWh Anuradhapura battery energy storage system in September — the first completed facility in a portfolio of 13 standalone projects totalling 130 MW/520 MWh under Sri Lanka’s first grid-scale storage initiative.

Four more came online in October at Mahiyanganaya, Ampara, Panadura and Vavuniya, adding 40 MW/160 MWh and taking the operational total to five facilities. The portfolio represents investment exceeding Rs. 22.5 billion under a 15-year build, own and operate model, intended to improve grid stability and ease pressure during peak evening demand.

Solar and pipeline

The 100 MW Rividhanavi Solar Park at Siyambalanduwa reached financial closure in September, securing Rs. 22.736 billion and the rupee equivalent of $33 million in syndicated term loan and bank guarantee facilities. The consortium was led by Sampath Bank with Commercial Bank of Ceylon, National Development Bank and Nations Trust Bank, allowing construction to begin.

The company also commissioned a 5 MW floating solar project, Diya Janani, at the Dambulu Oya reservoir in September.

Its development pipeline exceeds 240 MW, including a proposed 50 MW Mullikulam wind project through Aeroforce (Pvt) Ltd and a 10 MW wind project through Safe Power International Ltd.

Managing Director Manjula Perera said the company’s “ambition now is to double the capacity we have built over those 16 years within the next three years.”

Not reported

The filing does not state current total operating capacity, so the “double in three years” target has no stated baseline. It gives no commissioning dates for the remaining eight storage facilities or the Rividhanavi solar park, and does not say how much of the Rs. 193.57 million curtailment loss the PUCSL methodology would actually recover.