Sterling & Wilson surges 6% on Rs 1,200 cr-order for solar project; details

The uptick in the Sterling & Wilson Renewable Energy share price came after the company announced that it has received Letter of Intent (LoI) for an order worth approximately Rs 1,200 crore in Gujarat

Sterling & Wilson Renewable Energy share price: Sterling & Wilson Renewable Energy shares were buzzing in trade on Monday, December 23, 2024, as the stock surged up to 6.18 per cent to hit an intraday high of Rs 471 apiece.

 

The uptick in the Sterling & Wilson Renewable Energy share price came after the company announced that it has received Letter of Intent (LoI) for a new order worth approximately Rs 1,200 crore in Gujarat.

 

In an exchange filing, the company said, “Sterling and Wilson Renewable Energy Limited (SWREL), a leading renewable EPC is proud to announce that it has received LoI for a prestigious new order totaling approximately Rs 1,200 crore in Gujarat.”

 

According to the order details, the company will be responsible for design, engineering, procurement and construction of Balance of System (BOS) for 500 MW (AC) Solar PV project on engineering, procurement, construction (EPC) basis. 

 

“We are proud to receive this prestigious order, which will support India and especially Gujarat’s transition towards clean energy. It is a matter of immense satisfaction for us that customers continue to repose their trust in our team to be a part of their growth in the domestic renewable market,” said Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group.

 

In addition to EPC with single point responsibility, it will also include comprehensive operations and maintenance (O&M) for a period of three years, Sterling and Wilson Renewable Energy explained.

 

“India is one of the world's largest energy markets and must therefore focus on sustainable options to mitigate climate challenges while strengthening energy security, job creation and economic growth. We therefore remain confident about the future growth of India’s renewable energy sector and our increased role towards supporting it,” Jain added. 

 

About Sterling and Wilson Renewable Energy 

 

Sterling and Wilson Renewable Energy is among the leading global providers of end-to-end engineering, procurement, and construction (EPC) solutions in the renewable energy sector. 

 

Specialising in utility-scale solar, floating solar, and hybrid & energy storage solutions, SWREL boasts an impressive portfolio of over 20.7 GWp, encompassing commissioned projects and those under construction. 

 

The company also excels in operations and maintenance (O&M) services, managing a robust portfolio of 7.8 GWp solar power projects, including installations by third parties.

 

Operating across 28 countries, Sterling and Wilson Renewable Energy has established its presence in diverse markets, including India, Southeast Asia, the Middle East, Africa, Europe, Australia, and the Americas. 

 

The market capitalisation of Sterling and Wilson Renewable Energy is Rs 10,896.01, according to BSE. The company falls under the BSE 500 category.

 

At 10:02 AM, Sterling and Wilson Renewable Energy share was trading 5.21 per cent higher at Rs 466.65. In comparison, BSE Sensex was trading 0.70 per cent higher at 78,590.35 levels.