Sterling and Wilson Renewable Energy shares rally 8% after securing Rs 985 crore domestic and global orders
According to an exchange filing, the company announced that it has secured one order in Rajasthan totaling 534.3 MWp from a leading IPP in India and another order for two BESS projects totaling 616 MWh energy storage capacity in South Africa from a leading Middle East-based renewable energy projects developer.
The company further said that the Rajasthan order is from a new customer, which reaffirms the industry’s trust in SWREL’s project execution capabilities, whereas the South African order is from a repeat customer, giving them the confidence to award this marquee project’s execution to the company.
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The Rajasthan project involves the Balance of System (BOS) package and the South Africa order is for a BESS turnkey EPC wrap project. The Rajasthan project’s capacity is estimated to reduce CO2 emissions by approximately 0.80 million tonnes upon commissioning.
The company also informed that the South African order is the second largest utility-scale BESS project to be undertaken by SWREL.
These new order wins further reinforce the company’s position as one of the foremost players in the global renewable energy sector.“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. They also demonstrate the strength of our customer relationships, built on consistent project execution, domain expertise and the skilled manpower we have developed over the years,” said Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy.
Sterling and Wilson Renewable Energy share price movement
In the last one month, shares of Sterling and Wilson Renewable Energy were down 4.53% and nearly 14.67% in the current calendar year so far. In the last one year, the stock was down 30.85%.
The stock was down 48.88% in the last three years and nearly 50.49% in the last five years.
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