Sterling and Wilson Renewable Adds 600 MW Order From GIPC

Sterling and Wilson Renewable Energy Limited (SWRE), has announced that it has received a Letter of Intent (LoI) from Gujarat Industries Power Company Limited (GIPCL), for its proposed 600 MWac (equivalent to 750 MWdc) solar PV project at Khavda. The total bid value, including O&M for 3 years would be ~INR 1,130 crore (including taxes & duties) according to the firm. The win continues the large order inflow from India for the firm, now on a recovery trail after a horror 2021-23 due to issues linked primarily with its international contracts.

The GIPC project comprises two blocks, with each block of 300 MWac. Scope of work includes design, engineering, supply, construction, erection, testing, and commissioning along with a 3-year operation & maintenance contract.

Commenting on the occasion, Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group said, “We have started FY 2024 on a high note, with this prestigious order from GIPCL. With this, our total order booking in this fiscal jumps to over 1.6 GWp worth ~ INR 1,800 crore. The India solar EPC market has experienced significant growth. And amidst this boom, SWRE has emerged as one of the top players in the domestic market in terms of order booking. We continue to have a robust pipeline with high contribution from PSUs, and remain on track to achieve our domestic order inflow guidance.”

The big news awaited from the firm will of course be the start of orders from promoter group Reliance, which has announced massive plans to add renewable energy projects for captive consumption.

SWRE has a total portfolio of over 15 GWp (including projects commissioned and under various stages of construction). SWRE also manages an operation and maintenance (O&M) portfolio of 6.4 GWp solar power projects, including for projects constructed by third parties. Present in 29 countries today, Sterling and Wilson Renewable Energy Limited has operations in India, South-east Asia, Middle East, Africa, Europe, Australia and the Americas.