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Sterling & Wilson Renewable Energy has bagged a reported USD 1.5-billion order from the government of Nigeria, along with its consortium partner Sun Africa, for setting up solar PV power plants.
The order will be executed through Sterling & Wilson's US step down subsidiary Sterling & Wilson Solar Solutions Inc, the Reliance Industries-controlled company said in a statement on Friday without disclosing the order value.
However, a source told PTI that this is a huge order valuing at USD 1.5 billion to build five 961 mw solar plants.
The order involves development, design, construction and commissioning of solar PV power plants aggregating 961 mw at five locations along with battery energy storage systems with total installed capacity of 455 mw, the company said, adding these projects will be owned and operated by Niger Delta Power Holding Company, a Nigerian government entity.
Financing for these projects are under negotiations between the US Exim, ING and the government of Nigeria.
Amit Jain, global CEO of Sterling & Wilson, said his company has installed the maximum solar capacity in Africa with a portfolio of over 1 gw.
Nigeria's electrification rate is above the sub-Saharan African average of 47 per cent, which however, is way behind the global average. This makes for a strong case for solar energy as a viable solution for domestic and commercial supply.
Sterling & Wilson entered Africa in 2015 with its first international project of 90 mw in De Aar in South Africa. Today, it is one of the largest solar EPC (Engineering, procurement, and construction) players in the region with a strong portfolio of over 1 gw, spread across seven countries.
Some of its prestigious projects in the region include Benban Solar Park, which is the world's largest planned solar installation in Egypt, 175.5 mw in Morocco, and projects in Zambia, Namibia, Kenya and Niger.
Having presence in 25 countries, Sterling & Wilson Renewable Energy provides EPC services for utility-scale solar, floating solar and hybrid and energy storage solutions. The company has a portfolio of 12.8 gw apart from managing operations and maintenance portfolio of around 6 gw.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Fri, September 23 2022. 23:48 IST