Sterling And Wilson Wins Rs 1,200 Crore Order In Gujarat

Sterling and Wilson Renewable Energy Ltd. has received a Letter of Intent for a Rs 1,200 crore solar project in Gujarat.

The order involves the design, engineering, procurement and construction of Balance of System for 500 MW (AC) Solar PV project. In addition to EPC with single point responsibility, the project will also include comprehensive operation and maintenance for three years, according to an exchange filing.

“We are proud to receive this prestigious order, which will support India and especially Gujarat's transition towards clean energy. It is a matter of immense satisfaction for us that customers continue to repose their trust in our team to be a part of their growth in the domestic renewable market," said Amit Jain, global chief executive officer, Sterling and Wilson Renewable Energy Group.

Sterling and Wilson Renewable Energy is a pure-play, end-to-end renewable engineering, procurement, and construction solutions provider.

The company had swung into profit in the second quarter of fiscal 2025. It posted a profit of Rs 8.57 crore for the quarter ended Sept. 30, 2024, compared to a loss of Rs 1.47 crore in the same quarter of the previous fiscal.

Revenue increased 35.7% year-on-year to Rs 1,030.49 crore in the second quarter, compared to Rs 759.52 crore in the same period for the fiscal ended March 2024.

In September, the company secured two solar Engineering, Procurement and Construction orders from private independent power producers worth Rs 512 crore. The orders included 250 MWp DC project in Gujarat and LOA for a 65 MWp DC project in Maharashtra.

The promoters of Sterling and Wilson Renewables Energy, Shapoorji Pallonji and Co. and Khurshed Yazdi Daruvala, in September offloaded 7.13% stake.

Shares of Sterling and Wilson had closed 4.95% lower at Rs 444 per share, compared to a 1.52% decline in the Nifty 50.