Shares of Sterling and Wilson Renewable Energy Ltd surged 1% to hit a day’s high of Rs 238.50 on 1st December. This happened after the company announced a five-year strategic partnership framework agreement with Adani Green Energy. They also confirmed receiving the first purchase order under this arrangement.

The order covers a Balance of System (BOS) package for three solar projects at the Khavda Renewable Energy Park in Gujarat. This park is one of the world’s biggest renewable energy hubs. The order includes equipment supply and onsite services. The package is valued at about Rs 1,381 crore excluding taxes.

Sterling and Wilson is already working on 6 GW of projects in the Khavda region, with 5 GW targeted for completion this fiscal. With this fresh 1 GW addition, the company further strengthens its leadership in Gujarat’s solar EPC sector.

Chandra Kishore Thakur, Global CEO of Sterling and Wilson Renewable Energy Group, said this partnership with Adani Green is their biggest domestic EPC contract of the year. It enhances collaboration between India’s largest renewable energy developer and a top solar EPC player. He added that it reinforces the company’s strong execution capabilities in large-scale, fast-track solar projects.

With this new win, Sterling and Wilson’s total order inflow for the fiscal year has now crossed Rs 6,450 crore. Moreover, its project pipeline remains robust.

At 12:36 PM, shares of Sterling & Wilson were trading 1.03% higher at Rs 228.28 on NSE.

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