SWREL Wins Second South African Project This Fiscal Valued At ~INR 1,313 crore

Sterling and Wilson Renewable Energy Limited (SWREL) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), a leading domestic renewable EPC is proud to announce that it has won its second international project from South Africa this fiscal.

The company has been awarded a turnkey EPC contract for a 240 MW AC Solar PV project in South Africa. The total value of the contract is approximately USD 147 million (~INR 1,313 crore).

With this new order, SWREL is currently implementing four turnkey Solar PV projects with four reputed developers in the South African market. The two ongoing projects bagged last fiscal have made strong operational progress and helped establish our presence in the market, while the two new projects bagged in the last two months significantly bolster our presence in the region. The Solar PV market in South Africa is witnessing strong growth due to corporate demand for energy security, declining costs, and grid stability.

Speaking on the order win, Mr. Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy Limited shared "We are very excited to announce our second international order from South Africa this fiscal within a span of two months. South Africa remains a key international market for us where we are currently implementing four PV projects with four reputed customers reflecting our strong value proposition and positioning in this market. With this order win, SWREL has now achieved ~INR 5,088 crore of order inflows this fiscal, and ordering momentum continues to remain robust."

Shares of Sterling and Wilson Renewable Energy Limited was last trading in BSE at Rs. 225.95 as compared to the previous close of Rs. 224.75. The total number of shares traded during the day was 42774 in over 739 trades.

The stock hit an intraday high of Rs. 230.35 and intraday low of 225.20. The net turnover during the day was Rs. 9717051.00.

Source : Equity Bulls

Keywords

SterlingAndWilsonRenewableEnergy INE00M201021 SWSOLAR SWREL OrderWin SouthAfrica