SWREL Gets New Orders Of Rs. 512 Cr From Gujarat, Maharashtra

Sterling and Wilson Renewable Energy Limited (SWREL), a domestic renewable EPC received two new domestic orders from Private (IPPs) valued at Rs. 512 crore. It received this order from Gujarat and Maharashtra.

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It received an order for Engineering, Procurement, and Construction of a 200 MW AC / 250  MWp DC PV plant for a PV project in Gujarat. It also received a letter of award (LOA) for the Engineering, Procurement, and Construction of a 50 MW AC / 65 MWp DC PV plant in Maharashtra, India. 

Speaking on the order wins, Amit Jain, Global Chief Executive Officer (CEO) of Sterling and Wilson Renewable Energy (SWREL) Group  shared, "Both orders have been received from repeat clients thereby reaffirming our robust execution credentials.  In the current year, out of the 6 major domestic orders received, 5 are from our existing clients showing the confidence customers have reposed in us to be a part of their growth in the domestic renewable  market.“

India's pipeline of renewable projects that have been bid out already is heading towards 100 GW, indicating the tremendous potential for EPC firms, besides an upcoming tender flow.

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FY24-25 should mark a full return to profitability for the EPC major, which counts the Reliance Group as a promoter. Reliance itself is expected to start the roll out of its massive renewable energy plans next year.

SWREL currently 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 for projects constructed by third parties.