Sterling & Wilson Solar bags order worth USD 62.6 million

A global pure-play, end-to-end solar EPC solutions provider, Sterling & Wilson Solar Limited announced on Thursday that it has bagged an order worth USD 62.6 million (approx. Rs 462 crore) in Chile of 106.71 megawatts (MW). Reacting to the news, on Friday, the share surged more than 6 per cent on BSE.

The company received this order through a global independent power producer (IPP). Its work is slated to commence in the fourth quarter of the financial year 2021.

This is the company's fifth project in Latin America with a cumulative order book of around USD 488 million (approx. Rs 3,558 crore), making it one of the leading players in the region. It is one of the leading solar EPC and O&M players in the world, having a strong presence in the region with one project of 93.3 MW in Argentina and three projects of 588 MW under-construction in Chile.

The global competition to energy transition enables the rising participation of foreign companies in the Chilean renewable energy market thereby, making it one of the key focus regions for the company.

At 11.10 am on Friday, the share was trading 1.52 per cent down at Rs 220.35 on BSE as against S&P BSE SENSEX, which was trading 0.08 per cent higher than its previous close.