Rs 10,549 crore order book: Reliance Group-backed solar EPC company bags Rs 504 crore order in Rajasthan
The stock is up by 50 per cent from its 52-week low of Rs 336.20 per share.
Sterling and Wilson Renewable Energy Limited (SWREL) has announced a major win in the Indian renewable energy market. The company has secured a Letter of Award (LOA) valued at approximately Rs 504 crore from a private Independent Power Producer (IPP) for a 396 MWp DC solar photovoltaic (PV) project in Rajasthan, India. This project involves the supply, installation, and commissioning of a 305 MW AC PV plant.
This latest order win underscores SWREL's strong position in the Indian renewable energy sector, particularly in the rapidly growing private IPP segment. The company's proven track record, technical expertise, and strong client relationships have enabled it to secure repeat business and expand its project pipeline. As the Indian government continues to prioritize renewable energy adoption, SWREL is well-positioned to capitalize on the increasing demand for solar PV solutions.
Speaking on the order win, Mr. Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Group shared, “We have been making strong in-roads in the domestic Private IPP market this year and this new project win reflects our strong positioning and bears testament to our domestic value proposition. Besides the strong order pipeline we are seeing in the private sector there are a large number of bids expected from PSU’s in Q4 which augurs well for achieving our order booking target for the year.”
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
About Sterling and Wilson Renewable Energy Limited
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 provides EPC services for utility-scale solar, floating solar and hybrid & energy storage solutions and has a total portfolio of over 19.4 GWp (including projects commissioned and under various stages of construction). SWREL also manages an operation and maintenance (O&M) portfolio of 8.2 GWp solar power projects, including projects constructed by third parties. Present in 28 countries today, Sterling and Wilson Renewable Energy Limited has operations in India, Southeast Asia, the Middle East, Africa, Europe, Australia and the Americas.
The company boasts a market capitalization exceeding Rs 15,000 crore, and as of October 14, 2024, its order book stands at a substantial Rs 10,549 crore. Notably, the company is backed by the Reliance Group, with Reliance New Energy Limited, a key player within the Reliance Group, holding a significant 32.53 per cent stake. The stock is up by 50 per cent from its 52-week low of Rs 336.20 per share. Investors should keep an eye on this Reliance Group-backed solar EPC stock.
Disclaimer: The article is for informational purposes only and not investment advice.