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Sterling and Wilson Bags Orders worth 328 Cr

Jul 26, 2024

By: BlinkX Research Team

Sterling and Wilson Renewable Energy Limited announced on Friday, July 26, that it has secured two orders: one for the engineering, design, procurement, erection, testing, and commissioning of a 1,000 MWh standalone BESS plant in Rajasthan, and another for a 20 MW floating solar project in Karnataka, valued at Rs 328 crore.

Key Takeaways from the Order Win

• Sterling and Wilson Renewable Energy Limited has secured orders for a 1,000 MWh BESS plant in Rajasthan and a 20 MW Floating Solar project in Karnataka.
• The total value of these contracts is Rs 328 crore.

This GWhr scale project is, to date, India’s largest battery energy storage (BESS) project and one of the very few projects of GWhr scale in a single location globally, which shall be executed by 2025, said the company in a stock listed filing.

The filing also stated, ’The total installed capacity of BESS in India currently only stands at ~219 MWhr 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.’

“As we have seen during the 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. We are proud to be chosen as the preferred EPC partner in this prestigious project, which would be a significant milestone not only in our Company portfolio but also for our Country on the whole.” Amit Jain, Global CEO, of Sterling and Wilson Renewable Energy Group, said. 

About Sterling and Wilson

In 1971, Wilson Electric Works merged with Sterling Investments, a group company of the Shapoorji Pallonji Group, to form Sterling and Wilson, an EPC powerhouse. This merger enabled the company to capitalise on global opportunities and establish itself as a leading market player.

The newly formed Sterling and Wilson Private Limited began operations in the 1970s with several large-scale projects in the Middle East, later expanding into the Asian subcontinent and other regions. In a short time, it established a strong presence in the Middle East, Africa, Europe, the Americas, and Australia. Today, Sterling and Wilson operate in 28 countries.

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