Annual Report for FY 2024/25

Panasian Power PLC

Annual Report 2024/25

1

Panasian Power PLC

Annual Report 2024/25

Contents

Overview

About Our Integrated Annual Report 4

About Us 8

Project Portfolio 12

Our Journey 16

Awards and Accolades 18

Financial and ESG Highlights 19

Chairman's Statement 22

Chief Executive Officer's Review 25

Management Discussion And Analysis

Our Business Model 30

Our Commitment to Sustainability 32

Listening to our Stakeholders 37

Determining Material Matters 40

Operating Environment 43

Financial Capital 48

Manufactured Capital 56

Human Capital 62

Social and Relationship Capital 72

Intellectual Capital 82

Natural Capital 86

Stewardship And Governance

Board of Directors 98

Board of Directors of Subsidiaries and Joint Ventures 104

Management Team 106

Corporate Governance 108

Report of the Board Audit and Risk Committee 142

Report of the Board HR and Remuneration Committee 146

Report of the Board Related Party Transactions

Review Committee 148

Report of the Board Nominations and Governance

Committee 150

Risk Management Report 154

Financial Reports

Financial Calendar 2024/25 164

Annual Report of the Board of Directors on the

Affairs of Company 165

The Board of Directors' Statement

on Internal Controls 169

Statement of Directors' Responsibility 171

Responsibility Statement of Chairman, Chief

Executive Officer and Finance Manager 172

Independent Auditor's Report 173

Statement of Profit or Loss and other Comprehensive

Income 175

Statement of Financial Position 177

Statement of Changes in Equity 179

Statement of Cash Flows 180

Notes to the Financial Statements 182

Investor Information 251

Ten Years Financial Summary 254

Glossary of Financial Terms 255

GRI Index 256

Notice of Meeting 264

Form of Proxy 267

Inner Back Cover Corporate Information

At Panasian Power PLC, we believe that energy is not just a commodity - it is a force that powers our lives, drives progress and shapes our future. As a leading provider of sustainable energy, we are deeply committed to ensuring that this power is not only accessible but also responsibly sourced, carefully managed and continuously improved for generations to come.

This year, we have achieved new milestones in our sustainability efforts. We have reduced our carbon footprint, expanded our renewable energy portfolio and implemented transformative technologies to drive efficiency at every stage of our operations. But our journey doesn't end here. As we continue to innovate and lead, we are mindful that every action, every project and every decision we make is a step toward a more responsible energy future.

As we look ahead, we reaffirm our commitment to being a responsible steward of the energy that powers your

world - today, tomorrow and for many years to come. Because your power is our responsibility.

Panasian Power PLC

About Our Integrated Annual report 4

About Us 8

Project Portfolio 12

Our Journey 16

Awards and Accolades 18

Financial and ESG Highlights 19

Chairman's Statement 22

Chief Executive Officer's Review 25

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04 - 27

O

GRI 2-1, 2-2, 2-4

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We are pleased to present the Panasian Power PLC (" the Company") Integrated Annual Report 2024/25 ("the Report" or "the Annual Report"), marking the Company's 6th Integrated Annual Report. It provides a comprehensive yet concise overview of the Company's performance during the financial year ending 31st March 2025. The report details our value creation process and strategies and presents relevant information across financial, social, environmental and governance areas within the context of our operating environment. Furthermore, we offer our forward-looking perspective and share our aspirations for the future, acknowledging that these could be shaped by the economic realities of the ensuing year.

The primary scope of the report covers the core strategy of the company, which is the generation and supply of clean, renewable energy through various sources such as mini hydropower projects and solar photovoltaic installations (PV). The report provides an in-depth overview of the company's strategy and functions, cohesively reflecting the interconnections between various functions, in the spirit of integrated reporting. It also highlights the company's approach to value creation in the short, medium and long-term, founded on good governance and sustainability principles and how these impact the economy, the environment and society, in the long term.

SCOPE AND BOUNDARY

This report covers the financial and non-financial performance of the company and its subsidiaries, joint ventures located in Sri Lanka, collectively referred to as the group. Building upon our previous report for the financial year ending 31 March 2024, reporting encompasses the risks and opportunities arising from our business strategy and diverse stakeholders, how we create, preserve,

or erode value through our business activities.

ABOUT OUR

INTEGRATED ANNUAL REPORT

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Financial Capital

Manufactured Capital

Intellectual Capital

Human Capital

Social and Relationship

Capital

Natural Capital

We aim to manage these complex business relationships and focus on material matters that define our success, which are:

Our Business Model

Page 30

Our Strategy

Page 25

Our Operating Context

Page 43

Our Material Issues

Page 40

Financial Reporting Boundary Aligns with our Financial Statements Reporting Boundary

Page 165

Our Stakeholder Relationships

Page 37

Customers Employees Investors Regulators

Suppliers and business partners The community

Key changes to the group's organisational structure/supply chain in 2024/2025 were as follows:

• In alignment with our commitment to sustainable energy and national renewable energy goals, we have successfully initiated the construction of seven 05 MWs ground mounted solar photovoltaic projects.

• Awarded 05 MWs ground mounted solar PV project at Deniyaya.

• In the reporting period, executed a partial disposal of R-E-D Capital Asia (Private) Limited, resulting in a reduction of our ownership interest from 100% to 51%. This strategic decision aligns with our long-term objectives and enhances our operational efficiency.

Our approach to reporting is guided by the following key frameworks, standards and regulations across different reporting domains:

The Regulations Internal Assurance External Assurance Financial Reporting, Governance, Risk Management and Operations

The report is based on the

International Integrated Reporting Council's (IIRC) framework, which encompasses the six capitals and

their combined output that assures sustainability of the company and

the wider community, reflecting our

commitment to accountable integrated reporting practices, creating value and communicating with our stakeholders

in a transparent manner.

• Sri Lanka Financial Reporting Standards

• Companies Act No 7 of 2007

• Listing requirements of Colombo Stock exchange and subsequent revision to date.

• Code of Best Practice on Corporate Governance (2013) jointly issued by SEC and CA Sri Lanka

• Code of Best Practices on Related Party Transations 2013 advocated by SEC.

  Integrated Reporting

• Framework of the International Integrated Reporting Council (IIRC)

• A Preparer's Guide to Integrated Corporate Reporting issued by the CA Sri Lanka

• Handbook on Integrated Corporate Reporting issued by the CA Sri Lanka

Reporting to Board Audit and Risk Committee

An independent auditor confirming the accuracy of the Annual Financial Statements See Page 173

An independent assurance engagement on Integrated Reporting

ABOUT OUR INTEGRATED ANNUAL REPORT

The Regulations Internal Assurance External Assurance Sustainability Reporting

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financial interactions to create value for the company and its stakeholders, while also consuming, developing and transforming these capitals in the process.

• Global Reporting Initiative (GRI) Sustainability Reporting Standards

• United Nation's Sustainable Development Goals. (UN SDGs)

• Environmental, Social and Governance (ESG) disclosures through the framework and operations in conformity with the Principles of the United Nations Global Compact

• Disclosure on Gender Parity Reporting issued by the ICASL

• Sustainability Accounting Standards Board (SASB) Standards

• SLFRS S1 and S2

Sustainability reporting assessment by the Group Sustainability Reporting System Carbon footprint assessment

An independent assurance engagement for specific financial and non-financial sustainability indicators

Precautionary Principle

We use the precautionary principle as our commitment to social and environmental decision-making, by taking mitigating action of potential risks, even in the absence of complete evidence or information,

to ensure the long term viability of our operations. This allows us to operate as a responsible corporate citizen, safeguarding our stakeholders, the environment and the community we impact. Implementation

of the precautionary principle helps us anticipate challenges and innovate solutions that reinforce our resilience promoting trust among our stakeholders.

MATERIALITY

A structured, organization-wide materiality assessment process identifies the issues that are material to the company. Based on the double-materiality principle, the process addresses both potential effects on the company and its impacts on people and environment. The assessment systematically addresses risks, opportunities, macroeconomic trends and other elements that influence materiality in co-relation to the capitals and the company's ability to deliver value and mitigate erosion of value to its stakeholders. As a power generating company, we apply a robust, well-thought out and holistic approach to identifying key material aspects, which are documented on page 40 of the report. We meticulously address these issues to enhance performance, strengthen our sustainability framework, adhere to strong governance principles and demonstrating accountability through our regulatory compliance.

Disclaimer for the Publication of Forward-Looking Statements

This report includes forward-looking statements regarding the company's potential future performance and prospects. These statements are not guarantees of future results and are subject to various risks and uncertainties, including unforeseen events, volatile economic and political conditions and other factors beyond our control. Actual outcomes may differ significantly from current expectations. The reader is advised to seek expert professional advice in all such aspects.

Value Creation

Our value creation process is comprehensively detailed in the business model (refer Page 30). It details the inputs, outputs and outcomes across the capitals and their responsible management in creating value. Integrated reporting assumes that the generation of financial capital is driven by the interdependent cohesiveness between financial and non-

Combined Assurance

GRI 2-3

Assurance for the content embodied in this integrated report is reinforced by a

carefully vetted combination of internal and external sources. The information included in this report has received approval from the leaders of respective business units and has been scrutinized by the corporate management team prior to submission to the Board of Directors for final approval.

The mandatory independent review of the Financial Statements, including the notes to the accounts, has been provided by the company's external auditors,

M/S Ernst & Young. The findings of their review are provided in detail on pages 173 of this report. This external

validation strengthens the credibility and transparency of the financial information presented in the report.

Board Responsibility Statement

The Board acknowledges its responsibility to ensure that the Integrated Annual Report provides a balanced view of its

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Navigating the Report

For ease of navigation, the following Icon library cross-references the capitals and their integration with the stakeholders and strategy:

Capitals

Financial Manufactured Human Intellectual Social and Natural Capital Capital Capital Capital Relationship Capital

Capital

Strategic

Pillars

Shareholder Customer Inclusive Inspired Preserving and Prosperity Centricity Business Teams Regenerating

Model Nature

Stakeholders

Shareholders Employees Customers Suppliers Business Communities Government

Partners

performance in 2024/25 and is of the opinion that it addresses all material issues that it believes may have a bearing on the company's capacity to create value over the period. The corporate

management team prepared and reviewed the Integrated Annual Report and submitted the same to the board Audit and Risk Committee who recommended the reports to the Board for approval

in accordance with the delegation of authority. The reports were unanimously approved by the Board on 04 June 2025.

L.H.A.L.Silva

Chairman

P.K. Pathmanatha

Chief Executive Officer/Executive Director

Feedback

We are commited to consistenly enhancing the quality and readability of our Annual Report and welcome your feedback, suggestions and other comments.

Please direct your feedback to:

https://www.panasianpower.com

Available Forms

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Level 4, BTL Shipping House, No. 45/2, Braybrooke Street, Colombo 02

Telephone : + 94 11 4501 200

+94 11 4651 114

Facsimile: +94 11 4506 412

Email: info@panasianpower.com Website : https://www.panasianpower.com

Panasian Power PLC

Annual Report 2024/25

Print Available on request

Online Available as PDF

GRI 2-1, 2-2, 2-4

ABOUT US

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At Panasian Power PLC, we believe in the power of nature to fuel our future. Drawing inspiration from the sun's radiant energy and the earth's enduring strength, we harness renewable resources to create sustainable energy solutions that illuminate homes, power industries and nurture our planet.

Our mission is simple yet profound: to lead the transition towards a cleaner, greener and more resilient energy landscape. By integrating cutting-edge technology with a deep respect for nature, we provide innovative solutions that not only meet today's energy demands but also safeguard the environment for generations to come.

We are a public quoted company with limited liability which was incorporated under the provisions of the Companies Act No.17 of 1982 on 22 April 2002 and re-registered under the provisions of new Companies Act No.07 of 2007 on 03 December 2008. The Company obtained BOI approval under section 17(2) of the BOI Law No.04 of 1978 on 26 November 2008.

Panasian Power PLC (PAP), is Sri Lanka's pioneering supplier of clean and renewable energy and is considered to be a leader in the renewable energy industry, operating mini-hydro, ground and rooftop solar plants. We are renowned for affordable, sustainable

and reliable clean energy solutions, creating greener and sustainable future. Our projects support the solutions that reduce carbon emission, enhance energy security and promote economic prosperity as we build, own and operate renewable energy projects as an independent power producer and project developer. We are currently working towards achieving 60 MW of generation capacity, reinforcing our commitment to sustainable energy. As the channel partner for Sungrow inverters and LONGi solar panels in Sri Lanka, we strive to deliver high-efficiency energy conversion in our solar installations, to meet an exponential growth in demand for clean energy.

OUR VISION

We only have one planet and the widespread use of fossil fuels has caused irreparable damage to it. We want to protect the environment by becoming a leader in diversified sustainable renewable energy solutions in the Global South.

OUR MISSION

PAP produces clean renewable energy from hydro, solar and other renewable sources in Asia.

We own and manage projects that are best in class from a technology, design and efficiency point of view and provide market leading returns through innovative financing solutions and are the preferred partner for customers, suppliers, employees and investors.

We value fair compensation, room to grow, training, a healthy, creative work environment and respect for diversity. We care for our communities and environment actively. We are an innovative dynamic energy solutions provider.

OUR VALUES

Accountability Responsibility to all our stakeholders Bias for Action We are driven to get results, swiftly

Integrity Treat others with respect and honesty and are true to ourselves

Innovative Develop outside the box solutions Passion Passion for renewable energy solutions

Quality What we do, we do well

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Global Projects

Manza

Mini Hydro Power Project - Zambia

9.9 MW

Hydro plants in operation

GSS location

Projects under construction (Solar ground mounted)

Capacity

Rathganga MHPP 3.0 MW Padiyapelella MHPP 4.4 MW Manelwala MHPP 2.4 MW

GSS location Anuradhapura Ampara

Galle Hiyare Matara

Galle Baddegama Maho

Kurunegala

Capacity (AC)

5 MW

5 MW

5 MW

5 MW

5 MW

5 MW

5 MW

Solar plants in operation (solar ground mounted)

Projects at Predevelopment stage (solar ground mounted)

GSS location Capacity (AC)

Beliatta 1 MW

Maho 1 MW

Pannala 1 MW

Matara 1 1 MW

Matara 2 1 MW

Matara 3 1 MW

Solar plants in operation Rooftop solar

Hydro Power Projects (In pipeline)

GSS location Capacity Padiyapelella Phase 2 3.0 MW Lower Kotmale 2.5 MW

Zambia Project 9.9 MW

GSS location Boralesgamuwa Mawathagama

Mawathagama

Uhumeeya Narammala Malsiripura Palapathwala Kolonna Kohuwala

Maradankadawala

Thirappane

Capacity (AC)

350 kW

583 kW

400 kW

500 kW

233 kW

300 kW

600 kW

250 kW

300 kW

2 MW

2 MW

STRATEGIC DIFFERENTIATORS

Our unique capability and approach to clean and green energy, sets us apart from competition, focusing on delivering distinct value to our stakeholders, creating a competitive advantage.

• Purpose-led business

• Extensive and solid partnerships

• Diverse businesses and geographical presence

• Employee value proposition

• Robust corporate governance

• Strong balance sheet

GROUP AT A GLANCE

Clean Energy Generated

58,364,310 KWh

Number of Trees Saved

3,266,775

Group Revenue

LKR 1.5Bn

Profit Before Tax

362Mn

Total No of Employees

107

Total Installed Capacity

23.3 MW

MTs of CO2avoided

43,556

EBIT

LKR 550Mn

EPS

LKR 0.47

Investment in community development

LKR 6.8Mn

OUR COMMITMENT TO EXCELLENCE

Our commitment to ensuring excellence in all aspects of our operation is reflective from the value adding partnerships we have created in Sri Lanka, delivering on our promises and meaningfully contributing to the macroeconomic recovery of the country.

SUSTAINABILITY

As a power generation company, sustainability is a fundamental pillar of our long-term strategy, reflecting a commitment to responsible production of clean and green energy. We recognize that sustainable growth is essential for building resilience, creating long-term value and contributing to a more environmentally and socially conscious future. Our governance framework is founded on sustainability principles that cohesively flow through our operations.

CREATING VALUE FOR ALL STAKEHOLDERS

Our mission goes beyond generating clean energy and we strive to empower communities, create jobs and foster economic growth through our projects, while contributing meaningfully to the economic recovery of the country.

ABOUT US

GROUP STRUCTURE

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PANASIAN POWER PLC

Hydro 3MW Ratnapura

Subsidiary 100%

Subsidiary 83%

Subsidiary 100%

Subsidiary Subsidiary

100% 93%

Manelwala Hydropower (Pvt) Ltd

Padiyapelella Hydropower Limited

Panasian Investments (Pvt) Ltd

Lower Kotmale Oya Power Two (Pvt) Ltd

Panasian Power Zambia

Ltd

Hydro 2.4MW Walapane

Hydro 4.4 MW Padiyapelella

EPC Company

Hydro 2.5MW Medakumbura

Zambia Project Company Hydro 9.9 MW

Subsidiary

100%

Eco Green Solar Solutions (Pvt) Ltd

Joint Venture 50%

Powergen One (Pvt) Ltd

Subsidiary 100%

PAP Solar One (Pvt) Ltd

Subsidiary 52%

Solar Power Generation Matara (Pvt) Ltd

Ground Solar 1MW Beliatta

Rooftop Solar (PV) 0.35 MW

Boralesgamuwa

Rooftop Solar 3.1 MW Kurunegala, Kohuwala, Kolonna, Palapaththala

Ground Solar 2MW Matara

Subsidiary Subsidiary

73% 69%

Hydro EPC

Project in pipeline Ground mounted solar Rooftop solar

Finergreen Rajarata (Pvt) Ltd

Rooftop & Green house solar 2 MW Anuradhapura

Rajarata Sustainable Development (Pvt) Ltd

Rooftop & Green house solar 2 MW Anuradhapura

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Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary

100% 100% 100% 100% 51% 100%

Finergreen Gonnoruwa (Pvt) Ltd

Finergreen Mattala (Pvt) Ltd

Finergreen Ridiyagama (Pvt) Ltd

Panasian Solar (Pvt) Ltd

R-E-D Capital Asia

(Pvt) Ltd

Solar One Asia (Pvt) Ltd

Ground Solar Project Gonnoruwa 10MW

Ground Solar Project Mattala 10MW

Ground Solar Project Ridiyagama 10MW

EPC Company

Solar Investment company

Ground Solar Project Deniyaya 5 MW

Subsidiary

42%

Subsidiary Subsidiary Subsidiary Subsidiary

100% 100% 100% 100%

Panthree Solaro Energy (Pvt) Ltd

PAP PTS Solar (Pvt) Ltd

PAP EGSS Solar (Pvt) Ltd

PAP MHPL Solar (Pvt) Ltd

PAP SPGM

Solar (Pvt) Ltd

Ground Solar 3*1MW Matara, Maho & Pannala

5MW Ground Solar at Maho

15MW Ground solar At Anuradhapura, Galle (Baddegama) & Galle (Hiyare) (each 5MW)

10 MW ground solar at Kurunagala & Ampara (each 5MW)

5MW Ground Solar at Matara

A pioneering force in Sri Lanka's renewable energy sector, we contribute to the sustainable progress of the country through innovative and environmentally responsible solutions.

Harnessing the abundance of natural elements available in Sri Lanka, generating renewal energy is our niche expertise, while empowering communities and preserving the planet. Integrating state of the art technology, international standards and global know-

how, we expanded our project portfolio and

are currently in the process of delivering seven new projects to relieve the burden on the national grid. Investing in cutting-

edge infrastructure and leveraging strategic partnerships, we remain committed to our social responsibility, beyond energy generation and profit maximizing. We are fully cognizant of the transformative impact of renewable energy for economic growth and align PAP with the medium term and the long term goals of the Government of Sri Lanka to fully convert

to renewable energy by 2050 while achieving 70% of the goal by 2030.

Fostering innovation, upholding transparency and prioritizing sustainability, we continue to illuminate the path towards a clean, green and a resilient future.

In the many sections contained in this Report, we present to our valued shareholders our

contribution and our achievements in FY 2024/25.

PROJECT PORTFOLIO

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We operate an integrated model, managing all stages from development to construction, operation and energy management. As the leading renewable energy solutions provider in Sri Lanka, our commitment to sustainability and innovation has gained us high visibility and brand reputation, that underpins our success to deliver clean and sustainable energy.

Mini Hydro Power Projects

Project Location Rathganga Manelwala Padiyapelella

Reduction in CO2(MT)

13

Ground Mounted Solar Power Projects

Reduction in CO2(MT) (2024/25)

Beliatta

Matara 1

1,241

Matara 2

Matara 3

1,257

Maho

Pannala

1,088

PROJECT PORTFOLIO

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Project Location Boralesgamuwa Kolonna Kohuwala Palapathwala Narammala Uhumeeya Melsiripura Mawathagama

ECO

Mawathagama Foundation

Rooftop Solar Power Projects

Reduction in CO2(MT) (2024/25)

Boralesgamuwa

Kolonna

202

Kohuwala

Palapathwela

397

Narammala

Uhumeeya

322

Melsiripura

Mawathagama ECO

512

Mawathagama Foundation

336

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Project Location RSD Maradankadawala RSD Thirappane FGR Maradankadawala FGR Thirappane

Rooftop Solar Green House Projects

Reduction in CO2(MT) (2024/25)

RSD Maradankadawala RSD Thirappane FGR Maradankadawala FGR Thirappane

OUR JOURNEY

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2017

Padiyapelella 3.5MW Mini Hydro Plant commissioned

2002

Company incorporated

2004

Rathganga 2 MW Mini Hydro Plant commissioned

2008

Manelwala 2.4MW Mini Hydro Plant commissioned

2011

Panasian Power becomes a Public

2014

Rathganga Plant expanded from another 1 MW

Limited Company

17

2018

PAP commissioned its first rooftop solar projects

-Kolonna, Kohuwala, ODEL Borelasgamuwa

2019

PAP commissioned

its 1st ground mounted solar project - Beliatta

PAP receives investment from Emerald Fund, a JV between IFC, DEG, FMO and NDB

Feasibility work begins

on 9.9MW Zambia minihydro power project

06 Rooftop Solar projects commissioned

at Uhumeeya, Palapathwala,

2021

Maho - Commissioned 1 MW Ground Solar Project

Thirappane -

2023

Signed Letter of Intent for 5MW Ground mounted solar projects at Galle (Beddegama), Galle (Hiyare) Kurunegala, Anuradhapura, Maho, Matara and Ampara

Started construction of Padiyapelella Phase 2 Mini Hydro power project

Establishment of

PAP SPGM Solar (Pvt) Ltd, PAP MHPL Solar (Pvt) Ltd, PAP EGSS Solar (Pvt) Ltd, PAP PTS Solar (Pvt) Ltd,

R-E-D Capital Asia (Pvt) Ltd to undertake new ground mounted 5 MWs solar projects in 07 locations.

Signed Master supplier agreement with LONGi Technology Co. Ltd in China

Melsiripura, Narammala,

Commissioned 2

Mawathagama

rooftop Green House solar projects (1MW each)

Matara - Commissioned 03 Ground solar projects (1MW each)

2024

Signed Power Purchase Agreements

of 5MW Ground mounted solar PV projects at Ampara, Anuradhapura , Galle (Baddegama), Galle (Hiyare), Kurunegala, Maho and Matara

Achieved financial closure and commercial

2020

Awarded contract to be Sungrow Inverters'

exclusive channel partner in Sri Lanka

Commissioned 2 rooftop Green House solar projects (1MW each) at Maradankadawala

2022

Pannala - Commissioned

1 MW Ground Solar Project

Signed PPA for new tariff for 3MW Padiyapelella

Hydropower Limited Phase 2

construction of above stated 7 projects.

Awarded Deniyaya 5 MW Ground mounted solar PV plant

Obtained Energy permits for 5MW Ground mounted solar PV project at Medawachchiya and 10MW Ground mounted solar PV project at Ridiyagama

Obtained Energy permit for 5MW -ground mounted solar PV plant at Medawachchiya

Signed addendum for Padiyapelella Hydropower project Purchase agreement to enhance its capacity from 3.5MW to 4.4MWs

AWARDS AND ACCOLADES

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1

4

5

6

7

1

2

3

1

TAGS Awards 2024 - Power and Energy Sector

• Bronze Award by the Institute of Chartered Accountants of Sri Lanka.

  2

  
  
  

  CMA Exellence in Integrated reporting Awards - 2024

• Certificate of Compliance by the Institute of Certified Management Accountants of Sri Lanka

6

ISO 14001:2015 Environmental Management System

South Asian Federation of Accountants - Power and Energy Sector

3

 Merit Award for Best Presented Annual Report, Integrated Reporting Awards and

SAARC anniversary awards for Corporate Governance Disclosure 2023

7

ISO 45001:2018 Occupational Health and Safety Management System

Leadership Awards 2024

4

5

• Business Excellence Awards - Solar Company of the Year - Inverter

• Technology and Innovation Excellence Awards - Outstanding Product Innovation of the Year