Renewable solutions provider Sterling and Wilson Renewable Energy informed investors through an exchange filing post-market hours on Tuesday that it had secured a significant order to set up a solar power project in Rajasthan.
According to the company’s press release, it received a Letter of Intent (LOI) from a leading private IPP for a BOS EPC package to develop a 300 MW AC / 420 MWp DC Solar PV Project, along with a 220/33 kV pooling substation in Rajasthan, India. The total contract value is approximately ₹415 crore, including O&M and taxes.
Commenting on the order win, Chandra Kishore Thakur, Global CEO of Sterling and Wilson Renewable Energy Group, said, “We are excited to partner with a leading global renewable developer with huge growth plans in the domestic market and bag our first order from the private IPP market this fiscal. The order is a testament to our strong execution capabilities, and we continue to build on our gross order inflows, which have exceeded ₹2,400 crore this year.”
Sterling and Wilson Renewable Energy Limited (SWREL) is a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. The company offers EPC services for utility-scale solar, floating solar, and hybrid & energy storage solutions and has a total portfolio of over 22.8 GWp, including projects commissioned and under construction.
It also manages an operation and maintenance (O&M) portfolio of 9.3 GWp of solar power projects, including projects constructed by third parties. With operations across 28 countries, SWREL has a presence in India, Southeast Asia, the Middle East, Africa, Europe, Australia, and the Americas.
Shares remain under pressure
The company’s shares have lost significant value since hitting an all-time high of ₹828 apiece in May 2024. At the current trading price of ₹266, the stock has erased nearly 68% of its value from those peaks, having closed in the red in 12 of the last 15 months.
For the June quarter, the company reported a manifold jump in consolidated net profit to ₹39 crore, driven by higher revenue growth. Its revenue from operations rose to ₹1,761.63 crore in Q1FY26, up from ₹915.06 crore in the year-ago period.