Sterling and Wilson Emerges As L1 Bidder for NTPC Khavda RE Park Order

Highlights :

  • The order value is expected to be close to Rs 2200 crore over three years.
  • The order marks the first big win for Sterling and Wilson  since it’s renewed focus on the Indian market
Sterling and Wilson Emerges As L1 Bidder for NTPC  Khavda RE Park Order

Leading EPC player Sterling and  Wilson Renewable energy has informed the stock exchanges that the company  has emerged as the L-1 bidder for the BOS package comprising 4 blocks of the proposed solar PV plant of NTPC Renewable Energy Limited at Khavda RE Power Park, Rann of Kutch, Gujarat with an aggregate capacity of ~ 1570 MW DC. The total bid value, including O&M for 3 years would be ~ INR 2,200 Crore (inclusive of taxes).
The formal LOI and contract signing will happen in due course.

The projects, aggregating 1255 MW (AC) were issued for tendering by NTPC in June this year. NTPC Renewable energy, a 100% subsidiary of NTPC, had received the go-ahead from Ministry of New and Renewable Energy (MNRE) to set up 4750 MW renewable energy park at Rann of Kutch in Khavada. This will be India’s largest solar park to be built by the largest power producer of the country.

NTPC Renewable Energy Ltd (NTPC REL), got the go-ahead by MNRE on 12th July 2021 under Mode 8 (Ultra Mega Renewable Energy Power Park) of Solar Park Scheme. NTPC REL has plans to generate green hydrogen on a commercial scale from this park.

For Sterling and Wilson Renewable, with a portfolio (completed and under development ) of over 11 GW, the new focus on India, particularly, PSUs is paying off here. the firm has an avowed plan to tap into the large EPC market in the US, Europe, Australia and India , and had highlighted the PSU market as a particularly large opportunity in a July presentation for analysts.

The PSU Solar opportunity

A Big PSU Win: Picture Courtesy Sterling and Wilson Investor Presentation 



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