Sterling and Wilson Renewable Energy share price jumps over 6% on bagging ₹1,200-crore solar project

Sterling and Wilson Renewable Energy share price jumped over 6% after the company announced that it received LoI for a prestigious new order totaling around ₹1,200 crore in Gujarat. Sterling and Wilson Renewable Energy shares rallied as much as 6.81% to ₹471.00 apiece on the BSE.

The company received an order for Design, Engineering, Procurement and Construction of Balance of System (BOS) for 500 MW (AC) Solar PV project on epc basis. In addition to EPC with single point responsibility, it will also include comprehensive O&M for a period of three years.

“India is one of the world's largest energy markets and must therefore focus on sustainable options to mitigate 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 towards supporting it”, Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group.

Sterling and Wilson Renewable Energy is a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. The company provides EPC services for utility-scale solar, floating solar and hybrid & energy storage solutions and has a total portfolio of over 20.7 GWp.

The company also manages an operation and maintenance (O&M) portfolio of 7.8 GWp solar power projects, including for projects constructed by third parties.

Sterling and Wilson Renewable Energy Stock Price Trend

Sterling and Wilson Renewable Energy shares have fallen 33% in the past three months and have risen by over 7% year-to-date (YTD). In the past three years, the renewable energy stock has delivered more than 22% returns.

At 10:20 AM, Sterling and Wilson Renewable Energy shares were trading 3.74% higher at ₹460.15 apiece on the BSE, commanding a market capitalisation of ₹10,745 crore.  

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