Sterling & Wilson Renewable jumps 6% on winning ₹415-crore order

Sterling & Wilson Renewable shares rose 5.7 per cent, after the company received a letter of intent (LoI) for a ₹415 crore solar power project in Rajasthan

Sterling and Wilson Renewable Energy shares rose 5.7 per cent on Wednesday and logged an intra-day high at ₹281.9 per share on BSE. At 10:16 AM, on BSE, Sterling and Wilson Renewable’s share price was up 3.8 per cent at ₹276.6 per share. In comparison, the BSE Sensex was up 0.53 per cent at 81,528.6.

 

The market capitalisation of the company stood at ₹6,458.45 crore. The 52-week high of the stock was at ₹758.35 per share, and the 52-week low was at ₹216.05.  CATCH STOCK MARKET LATEST UPDATES LIVE

Why were Sterling and Wilson Renewable Energy shares in demand?

The buying on the counter came after the company received a letter of intent (LoI) for a ₹415 crore solar power project in Rajasthan. The contract, from a private power producer, covers the BOS EPC package and a pooling substation, along with O&M and taxes.

 

 

 “We are excited to partner with a leading global renewable developer with huge growth plans in the domestic market and bag our first order from the Private IPP market this fiscal. The order is a testament to our strong execution capabilities, and we continue to build on our gross order inflows1 which has exceeded ₹2,400 crore this year,” said Chandra Kishore Thakur, global CEO, Sterling and Wilson Renewable Energy Group. 

 

That apart, Sterling and Wilson Renewable Energy also emerged as a L1 bidder (lowest bidder) for a turn-key EPC package for development of a 225 MW (AC) grid connected solar PV project in Gujarat, India in May.   ALSO READ | Tata Steel, SAIL, Jindal rally up to 10% in Sept; is there more steam left? 

In a press statement, the company said, “Sterling and Wilson Renewable Energy Limited (SWREL), a leading domestic renewable EPC is proud to announce that the company has emerged as L1 bidder in a tender of a leading PSU developer for a turn-key EPC package for development of a 225 MW (AC) grid connected Solar PV Project in Gujarat, India.”

 

Sterling and Wilson Renewable Energy Limited (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 22.8 GWp (including projects commissioned and under various stages of construction).