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SWRE wins new order of ~ INR 1,535 crore from NTPC REL in Khavda, Gujarat – EQ

SWRE wins new order of ~ INR 1,535 crore from NTPC REL in Khavda, Gujarat – EQ

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  • Third order from NTPC REL in Khavda, Gujarat

  • Total orders from NTPC REL at ~ INR 5,850 crore (inclusive of O&M and taxes)

Mumbai : Sterling and Wilson Renewable Energy Limited (SWRE) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), announced that it has received the Notification of Award for the EPC project of 300 MWac of 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, would be INR 1,535 crore (inclusive of taxes).

This is the third order for SWRE from NTPC REL in just over a year. This 300 MWac project is synergistically located between the first two projects won. The formal contract signing is likely to happen in due course.

Mr. Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group said, β€œWe are delighted to win and partner again with NTPC Renewable Energy. The continued partnership further demonstrates the trust and leadership of SWRE’s project management capabilities and global expertise. The new order win of 300 MWac complements our existing portfolio of ~2.47 GWac currently under execution for NTPC REL in Khavda and helps us leverage the low module price environment globally.”

β€œWith this order, our year-to-date order booking stands at ~ INR 3,100 crore. The domestic order pipeline continues to remain strong and we’re confident of surpassing the FY 2023 order booking in this financial year. Over the past decade, we have been a dominant player in the domestic market and are poised to delivering high-quality renewable solutions that drive sustainability and make a positive impact on the world and look forward to spearheading the journey with continuous growth and innovation”, he added.

About Sterling and Wilson Renewable Energy Limited

Sterling and Wilson Renewable Energy Limited (SWRE) 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 13.6 GWp (including projects commissioned and under various stages of construction). SWRE also manages an operation and maintenance (O&M) portfolio of around 7 GWp solar power projects, including for projects constructed by third parties. Present in 29 countries today, Sterling and Wilson Renewable Energy Limited has operations in India, South-east Asia, Middle East, Africa, Europe, Australia and the Americas.

Anand Gupta Editor - EQ Int'l Media Network