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Sterling and Wilson Renewable shines on bagging orders worth Rs 328 crore
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Sterling and Wilson Renewable Energy is currently trading at Rs. 673.10, up by 16.30 points or 2.48% from its previous closing of Rs. 656.80 on the BSE.
The scrip opened at Rs. 655.05 and has touched a high and low of Rs. 675.00 and Rs. 655.05 respectively. So far 54942 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 828.00 on 21-May-2024 and a 52 week low of Rs. 253.45 on 19-Oct-2023.
Last one week high and low of the scrip stood at Rs. 683.80 and Rs. 624.80 respectively. The current market cap of the company is Rs. 15325.90 crore.
The promoters holding in the company stood at 52.91%, while Institutions and Non-Institutions held 19.15% and 27.94% respectively.
Sterling and Wilson Renewable Energy (SWREL) has received a prestigious order for the Engineering, Design, Procurement, Erection, Testing & Commissioning of 500 x 2 (1,000 MWhr) - Standalone BESS plant in Rajasthan, India.
This GWhr scale project is till date India’s Largest Battery Energy Storage (BESS) Project and one of the very few Projects of GWhr scale in a single location globally which shall be executed by 2025. The total installed capacity of BESS in India currently only stands at around 219 MWhr as of March 2024. As per National Electricity Plan (NEP) 2023 of Central Electricity Authority (CEA), the energy storage capacity requirement is projected to be 82.37 GWh (47.65 GWh from PSP and 34.72 GWh from BESS) in year 2026-27. With this order, therefore, SWREL will gain a leading position in India’s fast growing BESS market.
Additionally, the company also secured a 20 MW Floating Solar project in Karnataka from the same client, which marks the third such floating solar project the company is currently executing in the country. Total order value for both projects including O&M and taxes is approximately Rs 328 crore.
Sterling and Wilson Renewable Energy is engaged in the business of construction and maintenance of power plants. The company's products and services range include Contract activities and Operation Services.
