Shares of Sterling and Wilson Renewable Energy Ltd soared 55 on Wednesday, 10 September, after the company announced securing an order worth Rs 415 crore for a solar power project. 

In its regulatory filing, the company said that they have secured a Letter of Intent from a private power producer for a total consideration of Rs 415 crore. The project is for a solar power project that covers the BOS EPC package and pooling substation that includes O&M and taxes. 

Chandra Kishore Thakur, global CEO, Sterling and Wilson Renewable Energy Group, said, “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 Rs 2,400 crore this year.”

Furthermore, in May, the company had also emerged as the lowest bidder (L1) for a turn-key EPC package for developing a 225 megawatt (MW) AC grid-connected solar PV project in Gujarat. 

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) operates as a global pure-play provider of end-to-end renewable engineering, procurement, and construction (EPC) solutions. The company delivers EPC services for utility-scale solar, floating solar, and hybrid & energy storage projects, and its portfolio spans over 22.8 GWp of projects, including both commissioned plants and those under construction.

At 1:27 pm, the shares of Sterling and Wilson were trading 0.92% higher at Rs 268.60 on NSE.

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