Charisma Energy secures 15-year Sri Lanka battery storage mandate

It will construct a 10MW/40MWh BESS to support peak demand and frequency response.

Charisma Energy Services Limited announced that its wholly-owned subsidiary, WKV Hydro Technics (Pvt) Ltd, received a Letter of Award (LOA) from the Ceylon Electricity Board (CEB) on 16 February 2026.

The award is for the construction, ownership, and operation of a 10MW/40MWh standalone battery energy storage system (BESS) in Sri Lanka.

The CEB invited proposals on 30 July 2025 for BESS at selected grid substations for a 15-year operational period.

The project aims to store excess energy, meet peak demand, and provide rapid frequency regulation and response.

WKV Hydro Technics is required to achieve commercial operation within nine months from signing the Energy Storage Agreement (ESA), expected within one month of accepting the LOA.

The project will be funded through a combination of internal resources and external financing.

It is expected to contribute to Group revenue for the financial year ending 31 December 2027 but is not expected to have a material impact on earnings per share or net tangible assets per share for 2026.

The company confirmed that no directors, controlling shareholders, or their associates have any direct or indirect interest in the BESS project beyond their existing roles and shareholdings in the company.

Charisma Energy Services said it is evaluating additional projects that support renewable energy in Sri Lanka and will make further announcements on material developments regarding the project.