Sterling and Wilson Renewable Energy (SWREL) has secured a turnkey EPC contract worth approximately USD 147 million (INR 1,313 crore) for a 240 MW AC solar PV project in South Africa. The renewable energy EPC company announced this significant contract win, bringing its total order inflows for the current fiscal year to INR 5,088 crore.

Project Portfolio Expansion

With this new contract, SWREL is now implementing four turnkey solar PV projects with four reputed developers in the South African market. The company stated that two ongoing projects secured in the previous fiscal year have made strong operational progress, while two new projects obtained within the last two months have significantly strengthened the company's presence in the region.

This latest contract represents SWREL's second international order from South Africa in the current fiscal year, demonstrating the company's growing momentum in this key market.

Market Conditions and Growth Drivers

The solar PV market in South Africa is experiencing strong growth, driven by several factors including corporate demand for energy security, declining costs, and grid stability requirements. These market conditions have created favorable opportunities for renewable energy companies operating in the region.

Company Leadership Perspective

Chandra Kishore Thakur, Global CEO of Sterling and Wilson Renewable Energy, expressed enthusiasm about the contract win. “We are very excited to announce our second international order from South Africa this fiscal within a span of two months,” Thakur stated. “South Africa remains a key international market for us where we are currently implementing four PV projects with four reputed customers reflecting our strong value proposition and positioning in this market.”

Thakur emphasized the significance of this achievement for the company's overall performance, noting, “With this order win, SWREL has now achieved about INR 5,088 crore of order inflows this fiscal, and ordering momentum continues to remain robust.”

Company Portfolio and Operations

SWREL maintains a comprehensive portfolio of over 22.8 GWp, including projects that have been commissioned and those at various stages of construction. The company also manages an extensive operation and maintenance (O&M) portfolio covering 9.3 GWp of solar power projects. This O&M portfolio includes projects that were constructed by third parties, demonstrating the company's broader service capabilities in the renewable energy sector.

The company's strong positioning in South Africa reflects its ability to work with reputed customers and developers in the region, establishing itself as a reliable partner for large-scale solar PV implementations. The recent contract wins underscore the company's competitive advantage and market recognition in the international renewable energy space.

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