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Pan Asia Bank powers Sri Lanka’s energy future

Pan Asia Bank Director and CEO Naleen Edirisinghe with Singapore Khen Energy Non-Executive and Non-Independent Director Lee Tuck Peng Maurice Dmitri

Supports landmark battery energy storage project

Pan Asia Bank has extended part-financing for one of Sri Lanka’s pioneering utility-scale battery energy storage system (BESS), supporting a landmark project that marks an important development in the country’s evolving energy sector.

The 10 MW/40 MWh facility, developed by Galilee BESS (Pvt.) Ltd, a subsidiary of WKV Hydro Technics (Pvt.) Ltd and Khen Energy Limited, Singapore, was successfully commissioned in Galle recently.

The project introduces utility-scale battery energy storage to Sri Lanka, adding an important new capability to the country’s energy infrastructure.

Pan Asia Bank Director and CEO Naleen Edirisinghe said, “We are proud to have played a part in supporting Sri Lanka’s utility-scale BESS. Projects of this nature represent the kind of forward-looking investment that can contribute to the country’s evolving energy infrastructure. As The Truly Sri Lankan Bank, Pan Asia Bank remains committed to supporting entrepreneurs and businesses that are investing in new solutions and creating long-term value for the country. We congratulate Galilee BESS, WKV Hydro Technics and Khen Energy on this significant achievement.”

Pan Asia Bank Assistant General Manager Branch Credit Amal Alles further added, “The successful commissioning of this facility demonstrates the potential for innovative energy projects in Sri Lanka. We are pleased to have provided the financing support required for an investment of this nature and to work alongside the project partners.”

The 10 MW/40 MWh BESS facility is a joint development involving local expertise and international collaboration. Pan Asia Bank’s participation demonstrates the role that financial institutions can play in enabling investment in emerging areas of the economy. As Sri Lanka continues to develop its energy sector and explore new technologies, access to appropriate financing will remain an important enabler of such investments.

For Pan Asia Bank, participation in the project is aligned with its commitment to supporting investments that contribute to the country’s long-term economic development. The bank has been strengthening its focus on sustainable and responsible financing, recognising the importance of directing capital towards projects that can support Sri Lanka’s future infrastructure and energy requirements.