Jagath Sumathipala, Chairman of Sumathi Holdings, leads the Group’s commitment to renewable energy with the commissioning of a 5-megawatt (MW) ground-mounted solar power plant at Wewila, Eheliyagoda. This marks Sumathi Holdings’ strategic entry into solar energy, following the success of the Sujala Shakthi Hydropower Plant, and reflects its long-term vision to support Sri Lanka’s transition to cleaner and more sustainable energy.

Initiated in 2024 and completed this year, the project was developed under Sumathi Energy Company (Pvt) Ltd, a subsidiary of Sumathi Holdings. Equipped with advanced photovoltaic panels and a SCADA-based monitoring system, the Wewila Solar Plant generates efficient and reliable power even under variable weather conditions. It is expected to produce around 7 million kilowatt-hours of clean electricity annually, offsetting approximately 3,000 tonnes of CO₂ emissions, and supplying the equivalent annual electricity demand of around 2,500–3,000 Sri Lankan homes.

Commenting on the commissioning of the project, Chairman Jagath Sumathipala stated, “This project sets a clear path for sustainable regional development by reducing carbon emissions while protecting natural resources across the island. It is an investment not just in energy, but in the long-term wellbeing of the generations who will shape Sri Lanka’s future.”

The successful commissioning of the Wewila Solar Plant expands Sumathi Energy’s renewable energy portfolio and builds upon the momentum of the Group’s earlier hydro initiative. This milestone reinforces Sumathi Holdings’ role as a forward-looking contributor to Sri Lanka’s energy transformation and its journey towards a more sustainable future.

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Resus Energy PLC has made history with the launch of the country’s first-ever Green Bond issue by a local energy company, aiming to raise Rs. 1 billion to accelerate the nation’s transition to clean energy. The issue, scheduled to be opened on 25^thJune 2025, is also the country’s first Green Bond issue by a non-banking & finance company.

The issuance has generated substantial market interest, with 100% of the proceeds dedicated to renewable energy projects, positioning Sri Lanka at the forefront of sustainable finance in the region. NDB Investment Bank, experts in investment banking in Sri Lanka, acts as the Managers to the green bond issue for Resus Energy.

From the funds raised, Resus Energy proposes to utilize over 55% for financing 8 MW of clean solar capacity to Sri Lanka’s energy grid, generating an estimated 15 GWh of renewable energy annually and avoiding approximately 10,000 tonnes of CO₂ emissions per year, significantly contributing to the country’s climate commitments and sustainable development objectives. The projects will be 100% owned by the company and will be connected to the national grid via Ampara and Pallekele substations.

Through the Green Bond, Resus Energy is advancing SDG 7 and climate goals and expanding affordable energy access to underserved communities. The company believes these renewable projects create economic opportunities, improve essential services, and reduce fossil fuel dependence while supporting the Paris Agreement’s climate objectives and building community resilience.

Resus Energy currently operates 11 utility scale renewable energy plants throughout Sri Lanka, comprising hydropower and solar facilities with a total capacity of over 30 MW and generating nearly 75 GWh of clean energy annually.

The company is also expanding its footprint internationally, with its first potential project reaching an advanced stage in the approval process in East Africa, demonstrating a commitment to clean energy development internationally.

For the Green Bond, the company will issue up to 10 million Senior, Listed, Rated, Unsecured, Redeemable Green Bonds at Rs. 100 each. The issue comprises two types of Green Bonds. Type A offers a four-year tenure with an attractive coupon rate of 11.55% per annum payable annually (AER of 11.55%), and Type B provides a five-year tenure offering 11.75% per annum payable annually (AER 11.75%).

The Green Bond issue has also received strong validation from the market, with Fitch Ratings assigning Resus Energy PLC’s proposed Senior, Listed, Rated, Unsecured, Redeemable Green Bonds an A-(lka) rating, representing the company’s financial position and commitment to sustainable energy development.

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