Sterling & Wilson Renewable Energy shares jump 6% on ₹985 crore orders win

As per the latest business developments, Sterling and Wilson Renewable Energy (SWREL) stock price rose 6% in the initial trade on September 22 after firm has secured two orders with a combined value of more than ₹985 crore.

At 09:20am, Sterling and Wilson Renewable Energy was quoting at Rs 183.75, up Rs 10.40, or 6.00 percent, on the BSE.

The firm has received a 534.3 MWp order in Rajasthan from a leading independent power producer (IPP) in India. The project involves the execution of a Balance of System (BOS) package.

Separately, SWREL has secured an order for two Battery Energy Storage System (BESS) projects with a total energy storage capacity of 616 MWh in South Africa from a leading Middle East-based renewable energy projects developer.

The South African order is for a BESS turnkey EPC wrap project and is the firm's second-largest utility-scale BESS project undertaken to date.

“We are delighted to have received two prestigious orders each in Rajasthan and South Africa. Together, these orders reinforce the momentum in our business and the confidence customers place in our capabilities," stated Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy.

"They additionally demonstrate the resilience of our customer relationships, built on consistent project execution, domain expertise and the skilled manpower we have developed over the years,” he further noted.