Rs 1,535 Crore Order Received: Reliance-Backed Renewable Energy Company Secures Significant Contract!

Sterling and Wilson Solar Ltd (SWREL) is a prominent global provider of end-to-end solar engineering, procurement, and construction (EPC) solutions, as well as the operation and maintenance (O&M) of solar power projects. The company benefits from strong backing by Reliance Industries. SWREL became part of the RIL group through Reliance New Energy, which holds a 40% stake in it.

The stock price of SWREL surged on Friday, jumping 3.65% to reach Rs 316. The buzz surrounding the stock is attributed to the company’s recent achievement of securing a new order worth Rs 1,535 crore from NTPC REL in Khavda, Gujarat.

The company has officially announced the receipt of the Notification of Award for the EPC project, which entails constructing a 300 MWac power plant for NTPC Renewable Energy Limited (NTPC REL) at Khavda RE Power Park, Rann of Kutch, Gujarat. The total contract price, including O&M for 3 years, amounts to Rs 1,535 crore, inclusive of taxes.

Remarkably, this marks the third order SWREL has received from NTPC REL in just over a year. The formal contract signing is expected to occur in due course.

Mr. Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Group, stated, “With this order, our year-to-date order bookings now total Rs 3,100 crore. Our domestic order pipeline remains robust, and we are confident in surpassing our FY2023 order bookings within this fiscal year. Over the past decade, we have been a dominant player in the domestic market, and we are poised to deliver high-quality renewable solutions that promote sustainability and have a positive impact on the world. We look forward to leading the way with continuous growth and innovation.”

The total orders from NTPC REL now amount to Rs 5,850 crore, inclusive of O&M and taxes.

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