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Sterling & Wilson Solar secures EPC and O&M contracts worth AUD 610 mn (approx. Rs 3015 cr)


Capital Market 

Cumulative order book in Australia to about AUD 1 billion (approx. Rs 4900 cr)

Sterling & Wilson Solar announced on 17 May 2020 that it has signed (along with its branch and Australian subsidiary) an EPC contract of approx. AUD 525 million (~ Rs 2,600 crore) as well as the Operation and Maintenance (O&M) contract of approx. AUD 85 million (~ Rs 415 crore), which is its largest order in Australia. The duration of the O&M contract is for a maximum period of 20 years.

With this award, SWSL has clearly established its presence in Australia, within a short period of 15 Months of setting up the operations. With this order, the Company's cumulative order book in Australia adds up to approx. AUD 1 billion (~ Rs 4,900 crore), making it amongst the largest Solar EPCs in this very promising market.

In spite of the ongoing pandemic, SWSL has also signed two projects in India with leading global IPPs adding up to a value of Rs 620 crore.

A substantial portion of the company's international revenues for the current financial year will come from Australia, South America and the USA where the construction of solar projects has now commenced to full capacity. Renewable projects in India, which also add up considerably to the Company's revenues, have been allowed to restart now. SWSL is in the process of handing over projects which are being completed post lockdown and starting other projects. The worst impact of COVID-19 seems to have passed and the Company is looking forward to increased activity in order booking and revenues.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 18 2020. 09:34 IST