Sri Lanka’s WindForce PLC, an energy company, has announced its decision to retract the application for its anticipated green bond offering in light of unfavorable market conditions. In a recent market statement dated April 2, 2026, the company clarified that it will not move forward with the proposed issuance of Listed Rated Senior Unsecured Redeemable Green Bonds due to these challenging conditions.

The firm had intended to raise 4 billion rupees through the issuance of up to 40 million green bonds. However, Fitch Ratings has since rescinded the ‘A(lka)’ rating previously allocated to the bonds after WindForce delayed the issuance owing to an increase in market interest rates.

WindForce’s total portfolio under the national Battery Energy Storage System (BESS) procurement initiative includes 13 independent BESS projects. (Colombo/Sep29/2026)