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Sterling and Wilson bags orders worth Rs 512 cr

Last Updated : Sep 24 2024 | 11:04 AM IST

Sterling and Wilson Renewable Energy announced that it has received two new domestic orders from private independent power producers (IPPs) valued at approximately Rs 512 crore.

The company received an order for engineering, procurement and construction of a 200 MW AC / 250 MWp DC PV plant for a PV project in Gujarat, India.

Additionally, it secured a letter of award (LOA) for the EPC of a 50 MW AC / 65 MWp DC PV plant in Maharashtra.

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Speaking on the order wins, Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group shared, We are very happy to bag two more prestigious domestic solar projects from leading Private IPPs and these project wins showcase our strong positioning in a fast growing market.

Both orders have been received from repeat clients thereby reaffirming our robust execution credentials. In the current year, out of the 6 major domestic orders received, 5 are from our existing clients showing the confidence customers have reposed in us to be a part of their growth in the domestic renewable market.

Sterling and Wilson Renewable Energy (SWREL) is a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. The company provides EPC services for utility-scale solar, floating solar and hybrid & energy storage solutions and has a total portfolio of over 18 GWp (including projects commissioned and under various stages of construction). SWREL also manages an operation and maintenance (O&M) portfolio of 7.6 GWp solar power projects, including for projects constructed by third parties.

The companys consolidated net profit was at Rs 4.19 crore in Q1 FY25 as against with net loss of Rs 95.47 crore posted in Q1 FY24. Net sales was at Rs 915.06 crore in Q1 FY25, up 77.7% year on year.