Sterling and Wilson Solar Wins Rs 1,600 Cr Orders in Australia; Shares Surge

Shapoorji Pallonji group company Sterling and Wilson Solar Ltd has bagged two large scale solar projects worth Rs 1,600 crore in Australia, with an installed capacity of mare than 300 MW. Further, the new projects have been secured from global independent power producer (IPPs), the work for which is expected to commence immediately.

September 07, 2020. By Manu Tayal

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Shapoorji Pallonji group company Sterling and Wilson Solar Ltd has bagged two large scale solar projects worth Rs 1,600 crore in Australia, with an installed capacity of more than 300 MW.

The company, which is one of the leading solar EPC and O&M players globally, said in a statement that, it has signed (along with its branch and Australian subsidiary) orders worth AUD 300 million (~INR 1,600 crore) in Australia.

As per the statement, the company said it has bagged two large scale solar projects in the country which will have an installed capacity of over 300 MW.

Further, the new projects have been secured from global independent power producer (IPPs), the work for which is expected to commence immediately.

Commenting on the order win, Bikesh Ogra, Director and Global CEO, Sterling and Wilson Solar Ltd, said that “we are delighted to have won two major solar projects in Australia. Our total order book in Australia now stands at about AUD 1.2 Billion (~INR 6,350 crore) with 5 projects and a portfolio of more than 1.1 GW, making us the largest home-grown solar EPC player in the region.”

He further added, “with the continent’s regulatory environment becoming more conducive towards renewable energy and the prevalence of high electricity tariff, the commercial viability of solar projects is improving. Our vision for the market is to maintain our leadership position in the EPC segment and contribute to the country’s mission of clean energy.”

Additionally, the company has already three projects of more than 800 MW under construction in the region.

Meanwhile, the construction engineering major has been executing projects globally and has to its credit over 10.6 GW of solar power projects, commissioned and under various stages of construction, in various geographies.

Also, this portfolio includes a 1,177 MW Solar photovoltaic (PV) plant in Abu Dhabi, which is the world’s largest single-site solar plant. Besides, it also manages a portfolio of 7.4 GW of O&M projects globally.

Buoyed by the order win, scrips of the company were trading at Rs 275.05 apiece, up 2.12 per cent, from the previous close on the exchange at 11:07 hours. 

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