2 hrs ago
Sterling and Wilson Renewable Energy Wins Rs 985 Crore Orders
Sterling and Wilson Renewable Energy won two large renewable-energy orders.
Together, the orders are worth Rs 985 crore.
One project will be built in Rajasthan, India.
The other project will be built in South Africa.
The Rajasthan work is for equipment and services needed to complete a solar project.
The South African work involves a large battery energy storage system.
The company said the South African project is its second-largest utility-scale battery storage project.
After the Rajasthan project starts operating, it is expected to help avoid about 0.80 million tonnes of carbon dioxide emissions.
Sterling and Wilson Renewable Energy shares rose 4.76% to Rs 181.50 on Tuesday, from a previous close of Rs 173.35.
The company secured renewable-energy orders worth Rs 985 crore in Rajasthan and South Africa.
The Rajasthan order, from a new customer, covers a Balance of System package.
The South African order, from a repeat customer, is a battery energy storage system turnkey EPC wrap project.
The Rajasthan project is expected to reduce carbon dioxide emissions by about 0.80 million tonnes after commissioning.
- Who
- Sterling and Wilson Renewable Energy, led in the announcement by Global CEO Chandra Kishore Thakur.
- What
- The company won orders worth Rs 985 crore for projects in Rajasthan and South Africa.
- Where
- Rajasthan, India, and South Africa.
- When
- The share-price increase and announcement were reported on Tuesday; project completion timing was not specified.
- Why
- The orders support the company's renewable-energy business momentum and reflect customer confidence in its project-execution capabilities, according to the company.
Key facts
- Order value
- Rs 985 crore
- Share-price move
- Shares rose 4.76% to Rs 181.50 from a previous close of Rs 173.35
- Rajasthan project
- Balance of System package from a new customer
- South African project
- Battery energy storage system turnkey EPC wrap from a repeat customer
- Emissions impact
- The Rajasthan project is estimated to reduce carbon dioxide emissions by approximately 0.80 million tonnes upon commissioning
- BESS milestone
- The South African order is the company's second-largest utility-scale BESS project
- Company scale
- Portfolio of more than 28.7 GWp and an operations and maintenance portfolio of 18.3 GWp of solar projects across 28 countries
Quotes
Chandra Kishore Thakur
Global CEO of Sterling and Wilson Renewable Energy
“We are delighted to have received two prestigious orders each in Rajasthan and South Africa. Together, these orders reinforce the momentum in our business and the confidence customers place in our capabilities.”
businesstoday.in
Sources
Related news
ACME Solar Commissions Solar and Battery Storage Projects in Rajasthan
L&T Wins Major Middle East Battery Storage Order
L&T Shares Rise After Two Major West Asia Orders
Waaree Energies Secures 2 GW Solar Module Order
Tata Power commissions 72.5-MW solar project in Rajasthan
Guwahati Homemaker Builds Rs 2.5 Lakh Monthly Sweets Business
ED Searches Jaisalmer Premises Over Belgian Funds Allegations
Mann Warns Opposition Could End Punjab Welfare Schemes
BJP Wins 197 Rajasthan Urban Body Leadership Posts
