SWREL Gets Two Projects In Rajasthan And Karnataka

SWREL Gets Two RE Projects In Rajasthan And Karnataka

Leading EPC firm Sterling and Wilson Renewable Energy Limited (SWREL), received two domestic orders. One order is for an EPC project for a GWH-scale stationary battery energy storage project in Rajasthan. This project is for a 500 x 2 (1,000 MWhr) standalone BESS plant in the region. Additionally, the company also secured a 20 MW floating solar project in Karnataka from the same client. This is the company’s third such floating solar project in the country.

The renewable EPC provider is expected to execute this project by 2025. Currently, the total installed capacity of BESS in India only stands at 219 MW/hr as of March 2024. As per the National Electricity Plan (NEP) 2023 of the Central Electricity Authority (CEA), the energy storage capacity requirement is projected to be 82.37 GWh (47.65 GWh from PSP and 34.72 GWh from BESS) in years 2026- 27. With this order, therefore, SWREL will gain a leading position in India’s fast-growing BESS market.

Speaking on the order win, Amit Jain, Global CEO, of Sterling and Wilson Renewable Energy Group shared, “As we have seen during last 12 to 18 months, there have been multiple tenders, bids, and projects for either standalone Storage or Hybrid (Renewable + Storage) in India, making it a very important step for us as a Company and for the nation to move towards firm dispatchable renewable power.”

The company returned to net profits in its first quarterly results for financial year 2025 (FY25) with a continued revenue growth of 78% (year-over-year) YoY. The renewable EPC received an order inflow of Rs. 2,170 crores and received a rebound in its revenue in Q4 FY24. With a strong pipeline of renewable tenders that have been awarded, Sterling and Wilson should be well placed to build its own order book strongly this year.

Q1 Results: Sterling & Wilson Reports Profit, Gets Rs 2,170cr Orders

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