Listed renewable energy group Vidullanka PLC has acquired a 100% stake in Bhoruka Power Lanka Ltd, taking control of the 4.5 MW Gurugoda mini hydropower plant in Aranayake, the company announced on Thursday.
The deal adds Bhoruka as Vidullanka’s 12th mini hydro asset and brings its total generation portfolio to 26 power projects. Vidullanka said the acquisition is part of an aggressive diversification push in its current financial year, during which it has commissioned four ground-mounted solar plants, won a tender for a 50 MW wind project and secured a 10 MW battery energy storage contract.
The company has also acquired a 30% stake in SAFE Power International Ltd, giving it access to a licence to build a 10 MW wind facility. Overseas, Vidullanka has concluded an EPC contract with the Guyana Energy Agency and recently emerged as lowest-cost bidder for a mini hydro facility in Fiji, extending its international footprint beyond prior South Asian and African deployments.
“With the ongoing uncertainty surrounding the fossil fuel industry, the shift to renewable energy has become more crucial than ever,” Vidullanka said in its statement, framing the acquisition as part of a broader effort to diminish reliance on imported fuels and enhance energy security.
The announcement lands against a domestic backdrop in which declining reservoir levels at Castlereigh and Maussakelle have constrained hydroelectric output, and the Lakvijaya coal plant’s quality problems have driven a shift to higher-cost diesel generation. Small and medium hydro additions such as Gurugoda provide marginal but reliable capacity insulated from fuel-import volatility, though the 4.5 MW unit is small relative to system-wide demand.
Vidullanka’s expansion also tracks broader momentum in Sri Lanka’s renewables pipeline, including the International Solar Alliance’s 4 GW solar target for deployment by 2030 and growing private-sector interest in wind and battery storage.
