Sterling and Wilson Renewable Energy share price jump over 6% on bagging ₹1,200-crore solar project.
The shares of Sterling and Wilson Renewable Energy went up over 6% after the company announced it received the LoI for a new prestigious order valued at approximately ₹1,200 crore in Gujarat. Sterling and Wilson Renewable Energy shares rose as much as 6.81% to ₹471.00 on the BSE. The order is given for the Design, Engineering, Procurement and Construction of Balance of System (BOS) for a 500 MW (AC) Solar PV project on an EPC basis to the company. Besides, the offer includes comprehensive O&M for three years on an EPC with single point responsibility basis.
“India is among the world’s largest energy markets and therefore needs to focus on sustainable options which will help in mitigating climate challenges while strengthening energy security, job creation and economic growth. We therefore remain confident about the future growth of India’s renewable energy sector and our increased role toward supporting it”, Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group.
Sterling and Wilson Renewable Energy is a pure-play EPC company operating across the world, which specializes in end-to-end renewable engineering, procurement, and construction solutions. The EPC portfolio by the company totals over 20.7 GWp covering utility-scale solar, floating solar and hybrid & energy storage solutions. It also services an O&M portfolio of around 7.8 GWp solar power projects in addition to managing the operations and maintenance of third-party-constructed projects.
Sterling and Wilson Renewable Energy shares have crashed 33% in the past three months, while they are up over 7% YTD. In three years, this renewable energy stock has produced more than 22% returns. Shares of Sterling and Wilson Renewable Energy were trading 3.74% higher at ₹460.15 apiece at 10:20 AM on the BSE today, with the company commanding a market capitalisation of ₹10,745 crore.
