SWREL Wins Second 240 MW South Africa Solar Project for Rs. 1,313 Cr In FY26

Mumbai-based EPC major Sterling and Wilson Renewable Energy Limited (SWREL), has won its second international project from South Africa this fiscal year. In a press release, the company mentioned securing a turnkey EPC contract for a 240 MW AC Solar PV project in South Africa. The total value of the contract secured by Sterling and Wilson (SWREL) is approximately USD 147 million (Rs. 1,313 crore).

SWREL said that with this new order, it is currently implementing four turnkey Solar PV projects with four reputed developers in the South African market. The solar market in South Africa is witnessing strong growth due to corporate demand for energy security, declining costs, and grid stability.

About the Project

The two ongoing projects bagged last fiscal have made strong operational progress and helped establish the company’s presence in the market. 

Speaking on the order win, Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy Limited, shared, “We are very excited to announce our second international order from South Africa this fiscal within a span of two months. South Africa remains a key international market for us, where we are currently implementing four PV projects with four reputed customers, reflecting our strong value proposition and positioning in this market. With this order win, SWREL has now achieved ~INR 5,088 crore of order inflows this fiscal, and ordering momentum continues to remain robust.”

Building on Previous Projects in Africa

SWREL has been building its portfolio by bagging orders from the international market. This marks a significant return to international markets for the firm after the clean up and withdrawal post pandemic, when it was hit by contract disputes and losses.  C.K. Thakur, Global Chief Executive Officer of Sterling and Wilson, discussed the growth in the international market during an investor call, including securing a Letter of Intent (LOI) for a 115-megawatt turnkey project in South Africa valued at approximately USD 120 million.

During the call, Thakur emphasised the importance of the South African market. He said, “South Africa continues to remain a key focus market for us, and this will be the third project that we will be executing there. In addition to these three projects, we continue to be in close dialogue with a few large players there and are hopeful of concluding a few more projects soon.”

He also spoke about the unexecuted orders, which have increased to Rs. 9,287 crore compared to Rs. 9,096 crore as of March 2025 and approximately Rs. 8,348 crore as of June 2025. Moreover, he explained that among the total orders, about 84% of the current order book comprises domestic Indian projects. On the international front, the company expects to have Unexecuted Order Value (UOV) from two projects in Europe and three projects in South Africa.