What Vidullanka PLC does

Vidullanka PLC is a Sri Lanka-domiciled renewable energy independent power producer and engineering, procurement and construction (EPC) contractor, listed on the Colombo Stock Exchange (ticker VLL.N0000) since 2005 and operating for approximately 27 years. The company develops, owns and operates a diversified portfolio of small hydro, solar photovoltaic, and biomass (dendro) power plants, with a reported installed capacity of approximately 63 MW across more than 23 facilities in Sri Lanka, plus operational footprint in Uganda and Guyana. Its generation portfolio produced roughly 215 GWh of clean energy annually and supplies state-owned offtakers — Ceylon Electricity Board (CEB), LECO, Uganda Electricity Transmission Company, and the Guyana Energy Agency — under long-term Power Purchase Agreements typically spanning 15–20 years. Beyond utility-scale generation, Vidullanka executes rooftop solar EPC contracts for commercial clients (including Loadstar, Eagle Logistics, Akbar Brothers, and NDB Bank) and is expanding into adjacent clean-energy infrastructure.

The business model rests on three revenue streams: (1) regulated PPA-based generation tariffs from sovereign utilities; (2) C&I rooftop solar EPC and engineering services revenue; and (3) emerging downstream infrastructure including the VEDRIVE electric vehicle charging network and a Battery Energy Storage System partnership with WindForce PLC. In 2025 the company issued Sri Lanka's first listed Islamic Sukuk (Rs. 500 million, A+ Fitch national long-term rating) and achieved certification as the country's first carbon-neutral power-sector company, both of which support lower-cost green capital access for ongoing capacity build-out. Vidullanka's headcount and full financial disclosures are limited in the supplied material; reported corporate financials appear denominated in LKR rather than USD, and audited segment revenue is not separately disclosed, so revenue triangulation relies primarily on generation volume and tariff assumptions. Leadership is anchored by Riyaz Sangani (CEO, Founder, Director) and Osman Kassim (Chairman).

Name

Vidullanka PLC

Legal name

Vidullanka PLC

Website

https://vidullanka.com

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

101–250 employees

Short description

Vidullanka PLC is a Sri Lankan renewable energy IPP and EPC contractor operating 63 MW of hydro, solar, and biomass capacity across Sri Lanka, Uganda, and Guyana, supplying state utilities under long-term PPAs and expanding into EV charging and storage.

Ownership category

akta.pro rank

Product category

Renewable Energy Power Generation

NAICS

Electric Power Generation (22111), Hydroelectric Power Generation (221111), Solar Electric Power Generation (221114), Biomass Electric Power Generation (221117)

SIC

Cogeneration Services & Small Power Producers (4991), Electric Services (4911)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industries

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG), Renewable Grid Interconnection & Collector Systems (Solar/Wind) (IMAFAHAD), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)

Keywords

• Renewable energy generation
• Hydroelectric power plants
• Solar power projects
• Biomass energy production
• EPC construction services

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Power Generation Sales: Vidullanka generates electricity from hydro, solar, and dendro power plants and sells it to national grids under 15-20 year Power Purchase Agreements (PPAs) with utility companies. Revenue is recurring based on capacity and energy generated.
2. EPC Contracts: Engineering, Procurement, and Construction contracts for renewable energy projects for third parties such as the Guyana Energy Agency.
3. E-Mobility Services: VEDRIVE brand operates EV charging stations at commercial locations, generating revenue from charging services to EV owners.
4. Engineering Services: Design, project management, feasibility reports, and operations & maintenance services for renewable energy projects.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Vidullanka PLC constructs and operates renewable energy power plants across hydro (mini and small hydro), solar PV (ground-mounted and rooftop), and dendro/biomass technologies, supplying electricity to national grids in Sri Lanka, Uganda, and Guyana under long-term Power Purchase Agreements. It also delivers EPC contracting, engineering services, and operates the VEDRIVE EV charging network across commercial venues.

Product overview

Vidullanka PLC is a diversified renewable energy company offering a portfolio of power generation products and services. The core product portfolio includes three main power generation types: Hydro Power (11 mini hydro projects across Sri Lanka and Uganda, 215 GWh annual contribution), Solar Power (rooftop and ground-mounted installations ranging from 0.058 MW to 13.56 MW), and Dendro/Biomass Power (3.3 MW biomass plant). Supporting services include Engineering Services (design, project management, feasibility, O&M), EPC contracts (domestic and international), and E-Mobility through the VEDRIVE brand (EV charging network with mobile app). The company also operates Plantations for sustainable fuelwood sourcing. Individual projects are developed through subsidiary companies with joint venture partners. The portfolio spans 27 years of experience with 23+ operational power plants totaling approximately 63 MW capacity.

Differentiator

Problem solved

Functional benefit

Brands

• VEDRIVE: Electric vehicle charging network brand operated by Vidullanka PLC, offering EV charging stations across Sri Lanka with both AC and DC chargers. Available through mobile app on iOS and Android.
• Vidu Saviya

Products and services

• Hydro Power (Mini & Small Hydro Projects) Mini and small hydroelectric power generation projects ranging from 1.2 MW to 6.5 MW capacity, contributing 215 GWh of clean energy annually to national grids in Sri Lanka and Uganda. Includes 11 operational projects such as Bambarabatuoya, Batathota, Muvumbe (Uganda), and Bukinda (Uganda). Customers are national utilities purchasing under 20-year PPAs.
• Solar Power (Ground-Mounted and Rooftop) Solar photovoltaic power generation spanning ground-mounted utility-scale projects (ranging from 1 MW to 13.56 MW with single-axis trackers and bi-facial modules) and rooftop installations under the Net Plus/net metering scheme for industrial and commercial customers. Includes projects such as Vavunathivu I and II (agrovoltaic), Madampe 6 MW, Horana I and II, Matara, and Monaragala.
• Dendro Power (Biomass) Biomass power generation using sustainably grown fuel wood (Gliricidia, Ipil Ipil, Coconut Husk) at the Dehiattakandiya Biomass Power Plant with 3.3 MW installed capacity generating approximately 22 GWh annually. Fuel wood sourced from subsidiary Vidul Plantations (Pvt) Ltd (SLS 1551:2016 certified), powering roughly 15,000 rural homes.
• VEDRIVE EV Charging Network Electric vehicle charging network deployed at commercial venues (hotels, hospitals, malls, offices) with both CCS2 and CHAdeMO connectors up to 60kW DC fast charging, plus 22kW AC chargers. Includes a mobile app for locating chargers, initiating sessions, and tracking history. Customers include EV drivers and venue hosts (Shangri La/One Galle Face, Hemas Hospital).
• Engineering Services End-to-end engineering services across the renewable energy project lifecycle, including design, project management, feasibility reports, electro-mechanical supply and installation, and operations and maintenance. Delivered through wholly-owned subsidiary Vidul Engineering Limited for both internal projects and external clients.
• EPC (Engineering, Procurement, Construction) Contracts Turnkey Engineering, Procurement, and Construction contracts for renewable energy projects delivered to third-party clients such as the Guyana Energy Agency (Kumu 1.5 MW and Moco Moco 0.7 MW mini hydropower plants). Includes consultancy assignments and international market expansion.
• Plantations (Sustainable Fuelwood Operations) Sustainably grown energy crop sourcing and supply (Gliricidia and other species) operated by wholly-owned subsidiary Vidul Plantations (Pvt) Ltd across approximately 600 acres with 5,000 trees, accredited with SLS 1551:2016 Certification. Supplies fuel wood for the Dehiattakandiya dendro power plant and supports carbon-neutral operations.
• Madampe 6MW Solar PV Project Ground-mounted solar power plant with 12,320 solar modules, 20 inverters, and one transformer station, expected to export approximately 9.9 GWh of clean energy annually. Operated by subsidiary Vidul Madampe Solar Power (Private) Limited.
• Muvumbe SHPP (Uganda) Small hydro power project in Uganda with 6.5 MW capacity generating 31.42 GWh annually, supplied to the national grid via Uganda Electricity Transmission Company under a standard PPA. First overseas project and first constructed under IFC standards.
• Moco Moco Mini Hydro Power Project (Guyana) Mini hydropower plant in Guyana with 0.7 MW capacity, delivered under EPC contract with the Guyana Energy Agency as part of Vidullanka's first South American venture.

Quantifiable outcome

• 63 MW total installed capacity across 23 power plants
• +5 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

14 partnerships are on record, tiered core and minor.

• WindForce PLCcoreStrategic or Co-development PartnerVavunathivu II solar project - 50% equity partnership between Vidullanka and WindForce PLC. Also collaborating on BESS (Battery Energy Storage System) initiative where Vavunathivu project will be implemented through a consortium under 15-year Build, Own and Operate model.
• Hienergy (Pvt) LtdcoreStrategic or Co-development PartnerCo-development partner in Vavunathivu I - Sri Lanka's first Agrovoltaic plant. Partnership combines solar development expertise with agricultural integration.
• Guyana Energy AgencycoreImplementation/ SI/ Consulting PartnerEPC contract holder for enhancement and reconstruction of hydro power plants in Guyana - Kumu (1.5MW) and Moco Moco (0.7MW). First venture in South America.
• Ceylon Electricity BoardcoreChannel Partner/ Reseller/ DistributorPrimary off-taker for all domestic renewable energy projects under 15-20 year Power Purchase Agreements. National utility buying clean energy generated by Vidullanka's portfolio.
• Esna Power (Pvt) LtdminorStrategic or Co-development PartnerJoint venture partner in Madugeta MHPP - Vidul Madugeta (Pvt) Ltd is a JV between Vidullanka and Esna Power.
• Jaywise Constructions Ltd ConsortiumminorStrategic or Co-development PartnerJoint venture partner in Lower Kotmale MHPP - Lower Kotmale Minihydro Pvt Ltd is a JV between Vidullanka and Consortium of Investors led by Jaywise Constructions Ltd.
• Fitch RatingscoreOthersAssigned A+ rating to Vidullanka's Sukuk issuance, reflecting strong confidence in company's financial strength and governance.
• LECO (Lanka Electricity Company)minorChannel Partner/ Reseller/ DistributorRegional electricity distribution company purchasing renewable energy from Vidullanka projects.
• Vidul Plantations (Pvt) LtdcoreStrategic or Co-development PartnerFully owned subsidiary sourcing, growing and supplying sustainably grown energy crops (Gliricidia) for dendro power segment. Accredited with SLS 1551:2016 Certification.
• Forest Department (Sri Lanka)minorOthersCollaborator in 100,000 tree planting initiative at hydro power plant sites across Sri Lanka since 2019.
• Uganda Electricity Transmission CompanycoreChannel Partner/ Reseller/ DistributorNational grid operator for Uganda purchasing electricity from Muvumbe SHPP and Bukinda MHPP under standard PPAs.
• Control Union Sri LankaminorOthersIndependent verification body that conducted GHG verification under ISO 14064-1:2018 and issued Carbon Neutral Certificate.
• One Galle Face / Shangri La HotelminorChannel Partner/ Reseller/ DistributorHost venue for VEDRIVE EV charging stations at mixed-use complex in Colombo. Two 60kW chargers with CCS2 and CHAdeMO connectors.
• Hemas HospitalminorChannel Partner/ Reseller/ DistributorHealthcare facility hosting VEDRIVE EV chargers - two 22kW AC charging points for patients, visitors, and staff.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• NHPC Limited: Indian state-owned hydropower generator with growing solar and wind exposure. Comparable in hydro-led generation mix and PPA-based off-take, though at materially larger scale and with sovereign backing.
• Engie SA: Global utility with a sizable renewable energy generation portfolio across hydro, solar, wind, and biomass in multiple emerging markets. Comparable in technology mix and project development model, but with vastly greater capital base and geographic diversification.
• Adani Green Energy: One of the largest renewable IPPs in South Asia, with utility-scale solar, wind, and hybrid assets. Comparable in core activity (renewable IPP) but operates at vastly greater scale; a potential bidder for the same South Asian and increasingly international tender pipeline.
• Tata Power Renewable Energy: Indian renewable IPP with utility-scale solar, wind, and hybrid projects under long-term PPAs. Comparable business model and reliance on sovereign off-takers, but with the financial backing of the Tata group and multi-gigawatt pipeline.

Direct peers

• Lotus Renewable Energy PLC: CSE-listed renewable energy company focused on mini hydro and solar development in Sri Lanka. Closely comparable in project size, technology mix, and PPA-driven revenue model — competes in the same CEB tender process.
• WindForce PLC: Sri Lankan renewable energy IPP listed on the CSE, operating wind, hydro, and solar assets. Co-development partner with Vidullanka on Vavunathivu I (agrovoltaic) and Vavunathivu II, and the BESS consortium — a directly comparable peer in technology mix, customer base (CEB/LECO PPAs), and capital market profile.
• LAUGFS Power PLC: CSE-listed renewable IPP developing mini hydro, biomass, and solar projects in Sri Lanka. Comparable in scale, multi-technology strategy, and reliance on CEB/LECO PPAs; one of the closest head-to-head competitors for the same Sri Lankan renewable tenders.
• Hemas Power (Pvt) Ltd: Sri Lankan renewable energy developer within the Hemas group, with operational mini hydro and solar projects selling to the national grid. Comparable business model (B2G PPA-based generation) and geographic focus on Sri Lanka.

Regional players

• Acme Solar Holdings: Indian solar IPP with utility-scale projects across multiple Indian states. Comparable in solar-led development model and PPA economics, though operating exclusively in India rather than Vidullanka's South Asian / African / Latin American footprint.

Emerging players

• Greenlight Planet: Emerging-market distributed solar and clean energy provider. Less directly comparable in utility-scale generation but adjacent in addressing rural electrification and off-grid renewable energy in similar frontier markets where Vidullanka operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/vidullanka_plc
• Facebookfacebook.com/vidullankaPLC
• Instagraminstagram.com/vidullanka_plc

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vidullanka PLC