Sri Lanka Expands Clean Energy with Floating Solar

Picture Credit: by SkillsInternational

Sri Lanka has taken a significant step forward in its renewable energy journey as WindForce, a leading player in the country’s clean power sector, announced a major new development on the Dambuluoya Reservoir. The company’s fully owned subsidiary, Diya Janani (Pvt) Ltd, has finalized a standard power purchase agreement with the Ceylon Electricity Board, clearing the way for the construction of a large-scale floating solar installation.

The project, designed with a capacity of 6.5MWdc and 5MWac, marks a milestone in Sri Lanka’s exploration of innovative clean energy solutions. Estimated at a cost of 1,176 million rupees, the initiative will be among the first and largest privately developed floating solar projects in the country. By utilizing reservoir space rather than land, the project supports energy generation without competing with agricultural or settlement needs, a crucial advantage in a densely populated and environmentally sensitive nation.

Floating solar technology has been gaining global traction due to its efficiency, reduced evaporation benefits, and minimal land disturbance. WindForce’s investment signals the growing confidence of the private sector in Sri Lanka’s renewable energy ambitions and adds momentum to the national target of increasing clean energy contributions to the grid.

Picture Credit: by Sri Lanka Foundation

The company’s financial structure for the project follows an 80:20 debt-to-equity ratio, reflecting both strong investor commitment and strategic leveraging to optimize long-term returns. Once operational, the floating solar plant is expected to contribute stable, clean electricity to the national grid, helping ease Sri Lanka’s dependence on fossil fuels and reduce energy-related vulnerabilities.

As the country continues to navigate economic recovery and strengthen its energy security, the Dambuluoya floating solar project stands out as an example of innovation, sustainability, and forward-looking private sector participation in Sri Lanka’s power sector transformation.