- The share price of Sterling and Wilson Renewable Energy has already risen 5 per cent to Rs 365.7 apiece.
- The formal contract signing is expected to follow in the near future.
Sterling and Wilson Renewable Energy has achieved a project worth Rs 1,535 crore from NTPC Renewable Energy, fully owned subsidiary of the National Thermal Power Corporation. It is an engineering, procurement, and construction (EPC) project of 300 MWac at Khavda RE Power Park, Rann of Kutch, Gujarat.
Sterling and Wilson Renewable Energy is poised to secure its third order from NTPC Renewable Energy Limited in just over a year, for a 300 MWac project strategically situated between the first two wins. The formal contract signing is expected to follow in the near future.
The share price of Sterling and Wilson Renewable Energy has already risen 5 per cent to Rs 365.7 apiece.
Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group said, “We are delighted to win and partner again with NTPC Renewable Energy. The continued partnership further demonstrates the trust and leadership of SWRE’s project management capabilities and global expertise. The new order win of 300 MWac complements our existing portfolio of nearly 2.47 GWac currently under execution for NTPC REL in Khavda and helps us leverage the low module price environment globally.”
“With this order, our year-to-date order booking stands at ~ INR 3,100 crore. The domestic order pipeline continues to remain strong and we’re confident of surpassing the FY 2023 order booking in this financial year. Over the past decade, we have been a dominant player in the domestic market and are poised to deliver high-quality renewable solutions that drive sustainability and make a positive impact on the world and look forward to spearheading the journey with continuous growth and innovation”, he added.
Sterling and Wilson Renewable Energy Limited (SWRE) is a global leader specialising in comprehensive renewable energy engineering, procurement, and construction (EPC) solutions. SWRE offers EPC services for a wide range of renewable projects, including utility-scale solar, floating solar, and hybrid energy storage solutions. With a substantial portfolio totaling 13.6 GWp, encompassing commissioned projects and those in various construction stages, SWRE also manages an operation and maintenance (O&M) portfolio of approximately 7 GWp of solar power projects, including those developed by third parties. Operating across 29 countries, SWRE has a strong presence in India, Southeast Asia, the Middle East, Africa, Europe, Australia, and the Americas.