The Project Finance Team of HNB’s Corporate Banking Division congratulates the remarkable success of Wind Force (Pvt) Ltd on completion of their 10 MW Solar Power Project in Vavuniya under the name of Vydexa (Lanka) Power Corporation (Pvt) Ltd.
The significant achievement in this project is the record breaking commissioning period of only 64 days.
The Project Finance Team of HNB’s Corporate Banking Division congratulates the remarkable success of on completion of their 10 MW Solar Power Project in Vavuniya under the name of
Wind Force (Pvt) Ltd completed the construction of a 10 MW solar power project under the name of Vydexa (Lanka) Power Corporation (Pvt) Ltd., recently. The work was completed in only 64 days, a company spokesman said. Head of Project Finance, HNB Corporate Banking Division, Majella Rodrigo said this is the country’s fifth mega scale solar power project to be connected to the national grid and HNB is pleased to be the financing partner in two of these significant projects.
The Vydexa (Lanka) Power Corporation (Pvt) Ltd is also the second solar power project in Sri Lanka to utilize the most innovative technology, which uses the ‘Single Axis Tilting Facility’ to track the movement of the sun to optimize the positioning of solar panels.
Rodrigo said HNB’s relentless commitment to develop and support solutions driven by Green Energy Concept and Green Initiatives, makes this project important to the Bank. It is a clear indication of the HNB’s allegiance to projects of national interest. DGM Corporate Banking, Ruwan Manatunga said that HNB’s Corporate Banking Project Finance Division has supported over 30 large scale renewable power projects both locally and overseas amounting to a total capacity of over 110 MW.
HNB has continuously been in the forefront in investing in its product depth and service proposition pertaining to renewable power sector in Sri Lanka varying from hydro, wind, solar, biomass and is now poised to further develop project investments in the space of ‘solid waste to power’ sector.
HNB’s Project Financing is a total service offering business ranging from origination and arrangement to underwriting and syndication of project related transactions.
The ongoing ‘lending’ portfolio of the Bank’s Project Financing business is well over Rs. 100 billion, a testament of the HNB’s commitment to support the country’s infrastructure and project finance transactions, a Bank spokesman said.