SWREL announces New Domestic Order Win, New LOA Valued at ~ INR 504 crore

Sterling and Wilson Renewable Energy Limited (SWREL) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), a leading domestic renewable EPC is proud to announce that it has received a new domestic order from a Private IPP.

The company received the LOA for Supply, Installation and Commissioning of a 305 MW AC / 396 MWp DC PV plant for a PV project in Rajasthan, India from one of it's repeat customers. The total value of works including taxes is approximately INR 504 crore. As the market has seen significant growth in projects from private IPP's, we too are seeing a strong pipeline of projects from the private sector and especially from our repeat clients.

Speaking on the order win, Mr. Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group shared, "We have been making strong in-roads in the domestic Private IPP market this year and this new project win reflects our strong positioning and bears testament to our domestic value proposition. Beside the strong order pipeline we are seeing in the private sector there are a large number of bids expected from PSU's in Q4 which augurs well for achieving our order booking target for the year."

Shares of Sterling and Wilson Renewable Energy Limited was last trading in BSE at Rs. 486.35 as compared to the previous close of Rs. 489.75. The total number of shares traded during the day was 35464 in over 1376 trades.

The stock hit an intraday high of Rs. 493.40 and intraday low of 479.30. The net turnover during the day was Rs. 17188563.00.

Source : Equity Bulls

Keywords

SterlingandWilsonRenewableEnergy INE00M201021 SWREL OrderWin