Sterling And Wilson Shares Gain Over 3% On Rs 1,535 Cr Order From NTPC REL

Sterling and Wilson Renewable Energy Limited (SWRE) shares on Friday, Sept 29, 2023, rallied over 3% to hit an intraday high of Rs 366.10 on the BSE after the company announced it received Rs 1,535 Crore worth order from NTPC Renewable Energy (NTPC REL), including O&M for 3 years

The company received the order for engineering, procuring, and constructing (EPC) of 300 Mwac of NTPC REL at Khavda Renewable Energy Power Park in Rann of Kutch, Gujarat.

"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," the company said.

The shares of SWRE on Friday closed 3.54% higher at Rs 361.05 apiece on the BSE. The stock gained 0.71% in 1 week. It gained 24.67% in 3 months. In 1 year, it surged 16.75% and in 3 years, it surged 56.64%. Its 52-week high price is Rs 408.75 apiece and its 52-week low price is Rs 255.25 apiece.

Mr. Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group said, "We 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."

"With 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.