WindForce secures Cabinet nod to build two wind power plants in Mannar

• Investment estimated at Rs.3.1bn
• To be undertaken on BOO basis
• To utilize part of IPO funds 

The Cabinet of Ministers has granted approval to award the contract to build 10MW and 5MW wind power plants in Mannar to WindForce Ltd on build-own-operate (BOO) basis at an estimated investment of Rs.3.1 billion. 

Power Minister Dullas Alahapperuma on Monday sought the approval of Cabinet of Ministers to award the contract of the two wind power plants to the legal entity formed by WindForce, namely Hiruras Power (Pvt) Ltd. on BOO basis for 20 years and as recommended by the Cabinet Appointed Negotiation Committee.

Based on the Cabinet approval granted in January 2019 to add 60 MW wind power capacity to five grid substations at Trincomalee, Mannar, Madampe, Bolawatta and Kappalthurai, international competitive bids were called for the construction of a wind power plant for the Mannar grid substation and its connection to the transmission network.

With the total cost of the project estimated at Rs. 3.1 billion, Windforce is planning to commence the construction of the plant in the fourth quarter of this year with the aim to complete the project by the fourth quarter of next year.
The company plans to invest Rs.927 million in equity sourced through its recently completed IPO proceedings and the balance amount to be funded through debt from local commercial banks. 

The project, which will be located on a 25-acre land, is estimated to have a plant load factor of 45 percent as it is located in an area with high wind density.

The new wind power plants are expected to increase the installed capacity of WindForce’s wind energy portfolio to 84.2MW.