NTPC REL awards SWRE a contract of INR 2,212 crore

Sterling and Wilson Renewable Energy Limited (SWRE) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR) announced that it has won an order from NTPC Renewable Energy Limited (NTPC REL) for its proposed 1,255 MWac / 1,568 MWdc solar PV project at Khavda RE Power Park, Rann of Kutch, Gujarat.

SWRE was the L-1 (lowest) bidder in a competitive bidding process against the tender invited by NTPC REL and was granted the Contract on October 1, 2022, for a total value of INR 2,212 crore (including taxes & duties and including O&M for three years).

A contract Agreement for the project has been signed between NTPC REL and SWRE.

The project scope includes design, engineering, supply, construction, erection, testing, and commissioning, along with a 3-year operation & maintenance contract.

“We are thrilled to have received this important order from NTPC REL, which represents our largest domestic order to date.” This win illustrates SWRE’s project management capabilities and worldwide expertise’s trust and leadership. Our understanding of customer needs, excellent execution track record, world-class technology, and O&M proficiency differentiate us from other EPC players.”

Mr. Amit Jain – Global CEO Sterling and Wilson Renewable Energy Group, said,

“This order is critical for India’s rising need for clean and sustainable energy in line with the government’s goal.” As a domestic company, this order from NTPC REL solidifies our position as a market leader in the EPC area. In addition to our exponential rise in the foreign market over the last decade, we have also remained a dominating player in the domestic market.”

Mr. Chandra Kishore Thakur, CEO – Asia, Africa, Latin America, and Europe, commented on the order victory, saying,

About Sterling and Wilson Renewable Energy Limited

Sterling and Wilson Renewable Energy Limited (SWRE) is a global pure-play provider of end-to-end renewable engineering, procurement, and construction (EPC) services.

With a total portfolio of 12.6 GWp, the company provides EPC services for utility-scale solar, floating solar, and hybrid & energy storage solutions (including projects commissioned and under various stages of construction).

SWRE also administers an operation and maintenance (O&M) portfolio of around 7 GWp solar power installations, including third-party assets.

Sterling and Wilson Renewable Energy Limited currently operates in 25 countries, including India, Southeast Asia, the Middle East, Africa, Europe, Australia, and the Americas.

This article was shared with Prittle Prattle News as a Press Release.

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