SWREL Announces Order Wins, Including EPC of India's Largest BESS project

Sterling and Wilson Renewable Energy Limited (SWREL) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), a leading home-grown renewable EPC provider has received a prestigious order for the Engineering, Design, Procurement, Erection, Testing & Commissioning of 500 x 2 (1,000 MWhr) - Standalone BESS plant in Rajasthan, India.

This GWhr scale project is till date India's Largest Battery Energy Storage (BESS) Project and one of the very few Projects of GWhr scale in a single location globally which shall be executed by 2025.

The total installed capacity of BESS in India currently only stands at ~219 MWhr as of March 2024. As per National Electricity Plan (NEP) 2023 of Central Electricity Authority (CEA), the energy storage capacity requirement is projected to be 82.37 GWh (47.65 GWh from PSP and 34.72 GWh from BESS) in year 2026-27. With this order, therefore, SWREL will gain a leading position in India's fast growing BESS market.

Additionally, the company also secured a 20 MW Floating Solar project in Karnataka from the same client, which marks the third such floating solar project the company is currently executing in the country.

Speaking on the order win, Mr. Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group shared, "As we have seen during the course of last 12 to 18 months, there have been multiple tenders, bids, and projects for either standalone Storage or Hybrid (Renewable + Storage) in India, making it a very important step for us as a Company and for the nation to move towards firm dispatchable renewable power. We are proud to be chosen as the preferred EPC partner in this prestigious project, which would be a significant milestone not only in our Company portfolio but also for our Country on the whole.

This win depicts our in-house capabilities and knowledge of Energy Storage plus Engineering and Execution and places us with a large advantage in the Solar and Storage Market which is likely to grow tremendously in the near future. This also shows our commitment to be more agile and remain ahead of the curve and competition, ensuring our presence as one of the top renewable EPC players in this market", he added.

Shares of Sterling and Wilson Renewable Energy Limited was last trading in BSE at Rs. 686.25 as compared to the previous close of Rs. 656.80. The total number of shares traded during the day was 538280 in over 9052 trades.

The stock hit an intraday high of Rs. 689.60 and intraday low of 655.05. The net turnover during the day was Rs. 367822176.00.

Source : Equity Bulls

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SterlingandWilsonRenewableEnergy INE00M201021 OrderWin