Sterling and Wilson Renewable Energy Limited (SWREL), a leading player in the renewable energy EPC sector, has announced a major domestic order win. The ₹504 crore order involves the supply, installation, and commissioning of a 396 MWp solar project in Rajasthan. This development underscores the company's growing foothold in India's renewable energy market.

Details of the Order

• Project Scope: SWREL has been awarded a Letter of Award (LOA) for a 305 MW AC / 396 MWp DC photovoltaic (PV) plant. The project, located in Rajasthan, is for a private Independent Power Producer (IPP).
• Order Value: The contract, valued at approximately ₹504 crore (inclusive of taxes), involves the supply, installation, and commissioning of the solar PV project.
• Client Profile: This order comes from a repeat customer, reflecting the trust and satisfaction of SWREL's clientele.

The project will further strengthen Sterling and Wilson's position in the renewable energy sector, especially in the private IPP segment, which has seen robust growth recently.

SWREL's Perspective on the Order

Amit Jain, the Global CEO of Sterling and Wilson Renewable Energy Group, expressed his enthusiasm, stating:
"This new project win reflects our strong positioning and domestic value proposition. The private IPP market has been a significant focus area for us, and we are pleased to see a strong pipeline of projects from this sector."

The company is optimistic about upcoming opportunities, with a large number of bids expected from public sector undertakings (PSUs) in Q4 2024. This aligns with SWREL's order booking targets for the financial year.

About Sterling and Wilson Renewable Energy Limited

Sterling and Wilson Renewable Energy Limited is a global leader in providing end-to-end engineering, procurement, and construction (EPC) solutions for renewable energy projects.

Key Highlights of SWREL's Operations:

1. Global Portfolio: Over 20.7 GWp of projects, including commissioned and under-construction solar, floating solar, and hybrid energy storage systems.
2. Operation and Maintenance (O&M): Manages an impressive portfolio of 7.8 GWp of solar power projects, including those constructed by third parties.
3. Global Presence: Active in 28 countries, including India, Southeast Asia, the Middle East, Africa, Europe, Australia, and the Americas.

Market Trends and Outlook

1. Growth in Private IPPs: The Indian private IPP market has witnessed significant growth, with companies like Sterling and Wilson capitalizing on this trend.
2. Public Sector Opportunities: A strong pipeline of PSU bids is anticipated, offering opportunities for expansion in the domestic market.
3. Global Expansion: SWREL continues to strengthen its global footprint, leveraging its expertise in large-scale renewable projects.

Significance of the Order

This order not only solidifies Sterling and Wilson's leadership in India’s renewable energy market but also demonstrates the growing demand for large-scale solar energy projects. As India pushes for renewable energy targets, companies like SWREL are pivotal in driving this transformation.

Conclusion

Sterling and Wilson Renewable Energy's ₹504 crore project win is a testament to its strong capabilities and trusted partnerships in the renewable energy sector. With a robust order book and a strategic focus on private and public sector opportunities, the company is well-positioned to contribute significantly to India's renewable energy goals.

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