SW Solar shares in focus as firm bags Rs 1,381-crore orders from Adani Green Energy

Shares of Sterling and Wilson Renewable Energy Ltd (SW Solar) are likely to remain in focus on Monday after the company announced orders worth Rs 1,381 crore from Adani Green Energy Ltd (AGEL). In an exchange filing, the company said it has signed a five-year Strategic Partnership Framework Agreement with AGEL and received its first purchase order (PO) under this arrangement.

The awarded Balance of System (BOS) package covers three solar power projects at the Khavda Renewable Energy Park in Gujarat, one of the world's largest renewable energy developments. The order includes supply of goods and onsite services, valued at approximately Rs 1,381 crore excluding taxes. SW Solar is already executing close to 6 GW of projects in the region, with about 5 GW scheduled for completion in the current fiscal. The addition of a 1-GW project further strengthens its presence in Gujarat.

Commenting on the development, Chandra Kishore Thakur, Global CEO of Sterling and Wilson Renewable Energy Group, said the order underscores client confidence in the company’s engineering expertise and project execution capabilities. He noted that SW Solar has secured more than Rs 6,450 crore in order inflows so far this fiscal, with a strong project pipeline ahead.

SW Solar is a global renewable EPC solutions provider with a portfolio exceeding 24.4 GWp across solar, floating solar, hybrid, energy storage and wind projects. It also manages an O&M portfolio of 9.1 GWp, including assets built by third parties.

On Friday, shares of SW Solar closed 1.05 per cent lower at Rs 225.95.