Sterling And Wilson Solar Continues European Push With New Office In Spain

Sterling and Wilson Solar Limited, has opened its new office in Spain. Located in Seville, the office will serve as the firm’s headquarters for its European operations serving and tapping markets like Portugal, Spain, Italy, Poland, among others.

Mr. Vikas Bansal, Regional Head – Europe said, “We see this office opening as an important step forward in the company’s strategy to tap key markets. Europe has enormous potential in terms of solar capacity and the market is expected to witness the commissioning of new solar PV capacities of about 7 GW each year and emerge as a 28 GW market by 2023. With our strong bankability and well-nurtured relationships with IPPs in the region, SWSL is well poised to expand its operations in Europe to lead the global transition towards low-carbon energy.”

“SWSL constantly emphasizes on customer centricity, implementation and delivery excellence which has assisted us to make inroads in strategically situated markets that have favourable solar policies and high solar properties,” added Mr. Bansal. Spain has been the largest market for solar in Europe, adding 4.7 GW of solar power last year.

Sterling and Wilson Solar Limited has been executing projects globally and has to its credit more than 10.5 GW of solar power projects (commissioned and under various stages of construction) in various geographies. This portfolio includes a 1,177 MW Solar PV plant in Abu Dhabi – the world’s largest single-site solar plant. The Company also manages a portfolio of 7.8 GW of O&M projects globally, a testament to its best-in-class services.

For SWSL, the extra presence in Europe comes at a time when the Indian market has offered slim pickings. At its analyst call in September this year, the company had confirmed that in terms of the geographical spread of the UOV as on September 15, 2020, Australia constitutes around 50%, America is around 22%, India is 13%, Africa 7%, and the balance 6% is from the MENA and European region. Some of the biggest contract wins have come from Australia in recent months. Not only do these markets offer better prospects for now, the margins on offer are also way better than in India.

Which explains why in Q1 this year, the region wise revenue breakup was Australia at 72% of revenue followed by the Americas at 20% and the balance 8% from India.