Sterling and Wilson Wins Rs 985 Crore in New Solar and Storage Orders
SWREL secures a 534 MWp solar project in India and 616 MWh of battery storage in South Africa, driving a 5% share price increase.
Key points
- Sterling and Wilson secured two orders worth a combined Rs 985 crore, including a 534.3 MWp solar project in India.
- The company won a 616 MWh battery energy storage project in South Africa, its second-largest utility-scale BESS job.
- Shares rose 4.76% to Rs 181.50 on the news of these new domestic and international contracts.
Sterling and Wilson Renewable Energy shares climbed 4.76% on Tuesday, reaching a high of Rs 181.50, after the firm disclosed new business wins totaling Rs 985 crore. The company secured a 534.3 MWp solar project in Rajasthan and two battery energy storage systems in South Africa, a combination that significantly expands its active project pipeline.
According to the exchange filing reported by Business Today, the domestic order involves a Balance of System package for a leading independent power producer in India. Simultaneously, the international contract covers two 308 MWh battery projects in South Africa, marking the second-largest utility-scale storage job for the firm. These deals reinforce the company’s position in both new customer acquisition and repeat business execution.
Domestic and international order details
The Rajasthan project is a new win from an independent power producer and is expected to reduce carbon dioxide emissions by approximately 0.80 million tonnes once operational. In South Africa, the company secured a turnkey EPC wrap for two battery energy storage systems, each with a capacity of 308 MWh. This international order was awarded by a repeat customer, highlighting the firm’s growing track record in storage solutions.
Chandra Kishore Thakur, Global CEO, stated that these contracts demonstrate the strength of customer relationships built on consistent project execution and domain expertise. The combined value of these two orders adds to the company’s growing portfolio, which now includes more than 28.7 GWp of commissioned and under-construction projects across 28 countries.
Company scale and operational footprint
Sterling and Wilson operates as a global renewable EPC solutions provider, managing an O&M portfolio of 18.3 GWp of solar projects. The firm’s services span utility-scale solar, floating solar, hybrid systems, and wind projects. With operations in 28 countries, the company leverages its skilled manpower and technical expertise to deliver complex energy infrastructure projects globally.
Market reaction to revenue boost
The stock’s 5% rise reflects investor confidence in the firm’s ability to secure large-scale contracts in competitive markets. The addition of Rs 985 crore in orders provides immediate revenue visibility and underscores the company’s capability to handle both solar generation and energy storage. This performance supports the narrative of sustained growth in the renewable energy sector.
