Industry Companies

WindForce Secures USD 18 Mn IFC Loan for Solar, Battery Storage Projects

In a significant move to bolster its renewable energy portfolio, WindForce PLC has officially entered into a loan agreement with the International Finance Corporation (IFC), a member of the World Bank Group. The facility, totaling an aggregate amount of up to the LKR equivalent of USD 18 million, was approved by the company's Board of Directors on April 20, 2026.

The company made this immediate disclosure to the Colombo Stock Exchange (CSE) in accordance with Listing Rule 8. WindForce PLC noted that this material borrowing is expected to have a direct impact on its financial position and operations, and the information is likely to influence market activity and the price of the company's securities.

Furthermore, the company confirmed that these transactions do not constitute a “major transaction” under Section 185 of the Companies Act No. 7 of 2007.

Source: Adaderana