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Vidullanka to invest Rs. 2 b for 49% stake in Storex BESS venture | Daily FT

Ft · 🇱🇰 public Sri Lanka · · 346 words
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What to know about Vidullanka to invest Rs. 2 b for 49% stake in Storex BESS venture

Thursday May 14, 2026 Thursday, 14 May 2026 00:00 - - {{hitsCtrl.values.hits}} Vidullanka PLC is to invest approximately Rs.

Claims checked 10
Techniques found 0
Topics 0

Coverage spectrum

Coverage gap: Low Left coverage
Left14%
Center72%
Right14%

7 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Thursday May 14, 2026 Thursday, 14 May 2026 00:00 - - {{hitsCtrl.values.hits}} Vidullanka PLC is to invest approximately Rs.

Why it matters

2 billion for a 49% stake in Storex Ltd., following a restructuring of the project vehicle established to develop a portfolio of grid-scale Battery Energy Storage System (BESS) projects awarded by the Ceylon Electricity Board (CEB).

Common ground

Vidullanka and WindForce PLC said they entered into a Share Sale and Purchase Agreement and a Shareholders’ Agreement on Tuesday relating to the restructuring of Storex.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

open_in_new Read the original article: https://www.ft.lk/business/Vidullanka-to-invest-Rs-2-b-for-49-stake-in-Storex-BE…

fact_checkClaims Checked

eFinder analyzed this article and checked 10 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

info Single Source 6
help Insufficient Evidence 2
check_circle Corroborated 2
help
Claim 1: “Vidullanka said Storex had already secured all necessary regulatory approvals and successfully achieved financial closure for the development of the 12 grid-scale BESS plants across Sri Lanka.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to support the claim regarding regulatory approvals or financial closure for Storex's 12 BESS plants.
info
Claim 2: “the Vavunathivu project will continue to be developed separately under the consortium structure and does not form part of Storex.”
SINGLE SOURCE
The evidence provided for this claim is completely irrelevant, discussing Google search and Gmail accounts.
travel_explore
web search NEUTRAL — I noticed this immediately after downloading VPN apps on my iPad. And found this information. ESG security researchers have received reports that the Google WebHP Virus itself is often installed along…
https://support.google.com/websearch/thread/5152026/what-exa…
travel_explore
web search NEUTRAL — Create an account Tip: To use Gmail for your business, a Google Workspace account might be better for you than a personal Google Account. With Google Workspace, you get increased storage, professional…
https://support.google.com/mail/answer/56256?hl=en
travel_explore
web search NEUTRAL — If you're having trouble accessing a Google product, there's a chance we're currently experiencing a temporary problem. You can check for outages and downtime on the Google Workspace Status Dashboard.
https://support.google.com/?hl=en
info
Claim 3: “Vidullanka and WindForce PLC said they entered into a Share Sale and Purchase Agreement and a Shareholders’ Agreement on Tuesday relating to the restructuring of Storex.”
SINGLE SOURCE
While web results mention a share sale and purchase agreement between WindForce, Vidullanka, and Hi-energy Services regarding 'Solar Universe (Private) Limited', there is no mention of a restructuring of 'Storex' specifically in the provided evidence.
travel_explore
web search NEUTRAL — By clicking Continue to join or sign in, you agree to LinkedIn’s User Agreement, Privacy Policy, and Cookie Policy.Share. Copy. LinkedIn.
https://www.linkedin.com/posts/tharindu-senadeera-87b5ab62_w…
travel_explore
web search NEUTRAL — WindForce PLC and Vidullanka PLC have entered into a definitive share sale and purchase agreement with Hi-energy Services (Private) Limited last week, a filing to the Colombo Stock Exchange (CSE) said…
https://www.dailymirror.lk/business/WindForce-Vidullanka-ink…
travel_explore
web search NEUTRAL — Under the agreement, WindForce PLC and Vidullanka PLC will jointly purchase 36,500,000 ordinary voting shares of Solar Universe (Private) Limited from Hi-energy Services (Private) Limited for a total …
https://www.themorning.lk/articles/SwjS7vxfFtcYydZviTcu
info
Claim 4: “Vidullanka PLC is to invest approximately Rs. 2 billion for a 49% stake in Storex Ltd.”
SINGLE SOURCE
The provided evidence for this claim consists of search results for the movie 'Inception', which are completely irrelevant to Vidullanka PLC or Storex Ltd.
travel_explore
web search NEUTRAL — Inception is a 2010 science fiction action film written and directed by Christopher Nolan, who also produced it with Emma Thomas, his wife. The film stars Leonardo DiCaprio as a professional thief who…
https://en.wikipedia.org/wiki/Inception
travel_explore
web search NEUTRAL — Jul 16, 2010 · A concept which has long gestated in Christopher Nolan's mind, his eye for drama mixed with his large scale sensibilities ring true in Blockbuster season making Inception a true origina…
https://www.imdb.com/title/tt1375666/
travel_explore
web search NEUTRAL — Discover reviews, ratings, and trailers for Inception on Rotten Tomatoes. Stay updated with critic and audience scores today!
https://www.rottentomatoes.com/m/inception
info
Claim 5: “The 12 locations awarded directly to WindForce are being developed under Storex.”
SINGLE SOURCE
The evidence provided is general company information or irrelevant grammar exercises; it does not mention 'Storex' or the development of the 12 locations under that entity.
travel_explore
web search NEUTRAL — WindForce PLC is the largest renewable energy private sector company in Sri Lanka. The company was incorporated in 2010 and in 2021 was listed on the Colombo Stock Exchange.
https://en.wikipedia.org/wiki/WindForce
travel_explore
web search NEUTRAL — Is Windforce Plc a good trading partner for you? Access Windforce Plcs import and export shipments, products, suppliers, buyers, and competitors. Connect instantly with top decision-makers via direct …
https://www.volza.com/company-profile/windforce-plc-65237513…
travel_explore
web search NEUTRAL — 1. The new road is under construction. 2. The horse is in training for the race.4. The criminal is under observation. 5. This plane is in use. 6. The Cyborg D423 robot is in development.
https://www.euroki.org/koza/d-rewrite-using-the-phrase-given…
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Claim 6: “WindForce had previously disclosed that 11 of the initial BESS project locations were secured directly by the company, while the Vavunathivu location was awarded through the consortium with Vidullanka.”
CORROBORATED
Multiple sources confirm WindForce was awarded 12 BESS projects, and specifically, one source notes that 11 are fully owned by WindForce while the Vavunathivu project is developed with Vidullanka.
travel_explore
web search NEUTRAL — WindForce PLC has announced that it has received the Letters of Award on 16 February for twelve standalone Battery Energy Storage System (BESS) projects, secured through an international competitive b…
https://www.ft.lk/business/WindForce-leads-Sri-Lanka-s-first…
travel_explore
web search NEUTRAL — WindForce PLC has received Letters of Award to develop 12 standalone Battery Energy Storage System (BESS) projects secured through international competitive bidding.
https://www.saurenergy.com/solar-energy-news/sri-lanka-award…
travel_explore
web search NEUTRAL — Sri Lanka energy firm WindForce PLC said it has been awarded 12 standalone battery energy storage system (BESS) projects.Of the 12 projects, 11 will be fully owned and developed by WindForce, while th…
https://economynext.com/sri-lankas-windforce-secures-120mw-b…
check_circle
Claim 7: “The companies said the investment pertains to a portfolio of 12 BESS projects, each with a capacity of 10MW/40MWh, awarded by the CEB and being developed exclusively under Storex.”
CORROBORATED
Multiple independent sources confirm that WindForce PLC received Letters of Award for 12 standalone BESS projects with a combined capacity of 120 MW/480 MWh (which averages to 10MW/40MWh per project) awarded by the CEB.
travel_explore
web search NEUTRAL — WindForce PLC has received Letters of Award to develop 12 standalone Battery Energy Storage System (BESS) projects secured through international competitive bidding. The 12 projects, with a combined i…
https://www.saurenergy.com/solar-energy-news/sri-lanka-award…
travel_explore
web search NEUTRAL — WindForce PLC has won Letters of Award to build 12 separate Battery Energy Storage System (BESS) projects through a competitive bidding process that took place around the world. The 12 projects, which…
https://www.thebatterymagazine.com/windforce-secures-12-stan…
travel_explore
web search NEUTRAL — Sri Lanka's state-owned utility, the Ceylon Electricity Board (CEB), has issued a Request for Proposals (RFP) for the development of 160 MW/640 MWh of standalone battery energy storage systems (BESS).
https://www.ess-news.com/2025/08/14/sri-lanka-launches-tende…
help
Claim 8: “WindForce said its equity investment in Storex now stands at Rs. 2.1 billion following the revised capital structure.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to support the claim regarding WindForce's equity investment of Rs. 2.1 billion in Storex.
info
Claim 9: “The company subsequently secured an additional standalone BESS project, increasing its total awarded portfolio to 13 locations.”
SINGLE SOURCE
The evidence provided includes a Wikipedia entry for WindForce PLC and irrelevant entries for a bow in Diablo and a character in PHIGHTING!, but nothing regarding a 13th BESS project location.
travel_explore
web search NEUTRAL — WindForce PLC is the largest renewable energy private sector company in Sri Lanka. [3] The company was incorporated in 2010 and in 2021 was listed on the Colombo Stock Exchange.
https://en.wikipedia.org/wiki/WindForce
travel_explore
web search NEUTRAL — Windforce is a unique Hydra Bow. It makes an appearance in Diablo I, Diablo II and Diablo III. With the highest possible maximum damage of any bow, Windforce increases in power with higher levels. Thi…
https://diablo.fandom.com/wiki/Windforce_(Diablo_II)
travel_explore
web search NEUTRAL — Apr 25, 2026 · Windforce is a deity with two large, yellow spiny ram-like horns emerging from either side of her head, which taper into sharp ends. She wears a golden laurel and a medieval helmet viso…
https://phighting.wiki/Windforce
info
Claim 10: “Following the transaction, WindForce will hold 51% of Storex while Vidullanka will hold the remaining 49%.”
SINGLE SOURCE
The evidence provided contains general information about WindForce PLC and Vidullanka PLC but does not mention the specific ownership percentages of Storex Ltd.
travel_explore
web search NEUTRAL — WindForce PLC is the largest renewable energy private sector company in Sri Lanka. [3] The company was incorporated in 2010 and in 2021 was listed on the Colombo Stock Exchange.
https://en.wikipedia.org/wiki/WindForce
travel_explore
web search NEUTRAL — WindForce PLC secured the Gold Award for Solar Universe (PVT) Ltd and the Bronze Award for Melanka Power (Pvt) Ltd, recognising its outstanding contributions to environmental sustainability.
https://windforce.lk/wp-content/uploads/2025/06/WindForce-PL…
travel_explore
web search NEUTRAL — Vidullanka PLC became a listed entity in Colombo Stock Exchange in 2005 and has shown strong track record with good financial discipline together with good business practices and work ethics. Vidullan…
https://vidullanka.com/
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.