Charisma Energy Services Limited: Major Progress on 5.0MW Solar Power Purchase Agreement in Sri Lanka

Charisma Energy Services Limited (“the Company”), a Singapore-incorporated energy solutions provider, has released a significant update regarding its 5.0 megawatt (MW) Solar Standardised Power Purchase Agreement (SPPA) with the Ceylon Electricity Board (CEB) in Sri Lanka. This development follows the Company’s prior announcement on 4 November 2025, when it first disclosed its entry into the SPPA.

Key Highlights for Investors

• Achievement of Financial Closure Milestone:
  • Charisma Energy’s wholly-owned special purpose vehicle, Jericho Solar (Pvt) Ltd, has successfully attained CEB’s financial closure milestone as stipulated under Section 2.2(c) of the SPPA. This was achieved ahead of the deadline, reflecting strong execution capability and operational discipline.
• Advancement in Clean Energy Portfolio:
  • This milestone is a critical step in progressing the 5.0MW solar energy project, illustrating the Company’s commitment to advancing clean energy solutions and expanding its renewable energy footprint in Asia. Achieving financial closure typically means that all project funding requirements have been secured, allowing the project to move into the construction and implementation phase.

Potential Impact on Shareholders and Share Value

• Share Price Sensitivity: The successful achievement of this key financial milestone ahead of schedule is a positive signal for investors, as it demonstrates management’s ability to deliver on strategic initiatives and could accelerate project revenue realization.
• Risk Reduction: Financial closure substantially de-risks the project, reducing uncertainties regarding both financing and execution. This can enhance investor confidence and may be reflected in the Company’s share price.
• Future Announcements: The Board has committed to providing further updates as and when there are material developments in relation to the SPPA or the project’s progress. Investors should monitor for subsequent announcements that may impact the Company’s financial outlook or operational performance.

Additional Information

• The announcement was reviewed by PrimePartners Corporate Finance Pte. Ltd., the Company’s sponsor. However, it has not been examined or approved by the Singapore Exchange Securities Trading Limited, which assumes no responsibility for its contents.
• Contact for further information: Mr. Shervyn Essex, PrimePartners Corporate Finance, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, [email protected].

Conclusion

In summary, Charisma Energy Services’ achievement of financial closure for its Sri Lankan solar project is a material and price-sensitive development. It marks a critical milestone in the Company’s renewable energy growth strategy and enhances execution certainty for the 5.0MW project. Investors should watch for further developments which could further impact the Company’s valuation and future prospects.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors are advised to conduct their own research and consult with professional advisors before making any investment decisions. The views expressed are based on the Company’s official announcement and public information as of 19 January 2026.

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