SWRE wins new order from NTPC REL in Khavda, Gujarat

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Mumbai; 30 September 2023: Sterling and Wilson Renewable Energy Limited (SWRE) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), announced that it has received the Notification of Award for the EPC project of 300 MWac of NTPC Renewable Energy Limited (NTPC REL) at Khavda RE Power Park, Rann of Kutch, Gujarat. The total Contract Price, including O&M for 3 years, would be INR 1,535 crore (inclusive of taxes).

This is the third order for SWRE from NTPC REL in just over a year. This 300 MWac project is synergistically located between the first two projects won. The formal contract signing is likely to happen in due course.

Mr. Amit Jain, Global CEO, of Sterling and Wilson Renewable Energy Group said, “We are delighted to win and partner again with NTPC Renewable Energy. The continued partnership further demonstrates the trust and leadership of SWRE’s project management capabilities and global expertise. The new order win of 300 MWac complements our existing portfolio of ~2.47 GWac currently under execution for NTPC REL in Khavda and helps us leverage the low module price environment globally.”

“With this order, our year-to-date order booking stands at ~ INR 3,100 crore. The domestic order pipeline continues to remain strong and we’re confident of surpassing the FY 2023 order booking in this financial year. Over the past decade, we have been a dominant player in the domestic market and are poised to delivering high-quality renewable solutions that drive sustainability and make a positive impact on the world and look forward to spearheading the journey with continuous growth and innovation”, he added.