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Business News›Markets›Stocks›News›Sterling and Wilson Renewable Energy shares rally 8% after securing Rs 985 crore domestic and global orders

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Sterling and Wilson Renewable Energy shares rally 8% after securing Rs 985 crore domestic and global orders
Synopsis

Sterling and Wilson Renewable Energy shares surged nearly 8% on Tuesday to Rs 186.66 after winning domestic and international orders exceeding Rs 985 crore. The orders include a 534.3 MWp solar project in Rajasthan and a 616 MWh energy storage capacity project in South Africa.

ETMarkets.com

Shares of Sterling and Wilson Renewable Energy rallied nearly 8% on Tuesday to a day’s high of Rs 186.66 on the NSE after the company secured domestic and international orders totaling over Rs 985 crore.



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.



Disclaimer: This article has been written by Surbhi Khanna, who is not a SEBI-registered Research Analyst or an investment advisor. Surbhi Khanna does not hold any financial interest in as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.

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