The International Finance Corporation has partnered with WindForce PLC to develop Sri Lanka’s first utility-scale 100 MW solar power project. This landmark initiative aims to accelerate the country’s transition to renewable energy, strengthen energy security, and reduce electricity costs while supporting economic recovery. The project is expected to generate approximately 220 GWh of clean electricity annually, contributing to Sri Lanka’s target of achieving 50–70% renewable energy in its power mix by 2030. It will also enhance grid reliability and create over 3,000 jobs across construction, technical, and operational sectors. The IFC is investing up to US$18 million through a local currency loan, with additional support to improve engineering, maintenance, sustainability, and grid resilience capabilities. Aligned with the World Bank Group’s broader energy strategy, the project will help reduce reliance on imported fuel and promote long-term infrastructure development. It complements ongoing initiatives to strengthen transmission systems and institutional capacity, positioning Sri Lanka to expand solar power and future battery storage solutions while building a more resilient and cost-effective energy sector.
