WindForce soars to new heights
View(s):WindForce PLC, Sri Lanka`s renewable energy company, has announced an outstanding financial performance for the first quarter of the 2024/25 fiscal year.
The group’s consolidated revenue for the quarter ending June 30, 2024, soared to Rs.1.96 billion, with net profits also demonstrating substantial growth, climbing 27 per cent to Rs. 653 million, up from Rs.514 billion recorded in the first quarter of last year, a media release issued by the company said.
“This exceptional financial performance was largely driven by the successful commissioning of the Hiruras 15 MW wind power plant in June/July 2023, which significantly enhanced WindForce’s production capacity and revenue streams,” it added.
The wind sector reported a 37 per cent revenue increase.
The hydro sector also delivered strong results, with a 67 per cent rise in electricity generation revenue, bolstered by the inclusion of the Mahoma plant as a subsidiary since January 2024, adding an extra Rs.74 million to the group’s earnings, the release said further.
Further solidifying its position as a key player in sustainable energy, Solar Universe (PVT) Ltd, a subsidiary of WindForce, was awarded the Gold trophy (at a recent event) for its outstanding solar power initiatives, the media release added.
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