Sterling and Wilson Renewable Energy Secures ₹512 Crore Orders for PV Plants

On September 24, 2024, Sterling and Wilson Renewable Energy Limited announced the receipt of two significant domestic orders from Private Independent Power Producers (IPPs), collectively valued at approximately ₹512 crore. 

The first order involves the Engineering, Procurement, and Construction (EPC) of a 200 MW AC/250 MWp DC photovoltaic (PV) plant for a solar project in Gujarat, India. This project is set to contribute significantly to the region’s renewable energy capacity and reflects the growing demand for sustainable energy solutions. 

Additionally, the company secured a Letter of Award (LOA) for the EPC of a 50 MW AC / 65 MWp DC PV plant located in Maharashtra, India. These new contracts underscore Sterling and Wilson’s commitment to advancing solar energy infrastructure in India and demonstrate the company’s capability to execute large-scale renewable projects that align with the country’s sustainable development goals.

Commenting on the order wins, the Global CEO of Sterling and Wilson Renewable Energy Group, Mr Amit Jain, said, “We are very happy to bag two more prestigious domestic solar projects from leading Private IPPs, and these project wins showcase our strong positioning in a fast-growing market.”

He further stated, “Both the orders have been received from repeat clients, thereby reaffirming our robust execution credentials. In the current year, out of the 6 major domestic orders received, 5 are from our existing clients showing the confidence customers have reposed in us to be a part of their growth in the domestic renewable market.”

About Sterling and Wilson Renewable Energy Limited

Sterling and Wilson Renewable Energy Limited is a leading global provider of comprehensive renewable engineering, procurement, and construction (EPC) solutions. The company specialises in EPC services for utility-scale solar projects, floating solar systems, and hybrid energy storage solutions, boasting a total portfolio exceeding 19.4 GWp, which includes both commissioned projects and those at various stages of construction. Additionally, SWREL manages an operation and maintenance (O&M) portfolio of 8.2 GWp of solar power projects, including those built by third-party developers.

On September 24, 2024, the share price of Sterling and Wilson Renewable Energy Ltd opened at ₹695.00, touching the day’s low at ₹672.85, as of 10:04 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.