US$30M fundraise for a leading Sri Lankan EPC contractor

COMPANY OVERVIEW

Background: Established in 1919, the company is an engineering organization. It’s Parent Company, is a multinational and diversified conglomerate company in Sri Lanka, publicly listed on the Colombo Stock Exchange with business spanning over 16 sectors, catering to 80 markets worldwide.
With over 35,000 employees, its Parent Company was also the first listed entity in the country to surpass annual revenue of US$1B. The Parent Company has also successfully developed renewable energy projects.

Track Record: The company is the largest EPC contractor in Sri Lanka with over 250MW of installation capacity. The company has recently ventured into renewable energy investments with over 175MW of projects in the pipeline.

Management Team: The core management team has over 13 years of experience on average.

USE OF FUNDS

The company already has government approval to develop 175MW of ground mounted projects in Sri Lanka and is seeking $30M in debt financing for the same. The company aims to use the funds for capital equipment (80%), project management (10%) and other requirements (10%)

IMPACT POTENTIAL

The company’s green energy capacity of 200MW+ has led to a reduction in over 196M kgs of carbon emissions and created 490+ direct employment opportunities and over 800 indirect employment opportunities. Over 80% of the women employed at the company participate in IT, Engineering, and Production Related Activities