SWRE wins order worth INR 2,212 crore from NTPC REL

Hyderabad; 13 October 2022: 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 has emerged as the L-1 (lowest) bidder in a competitive bidding against the tender invited by NTPC REL and has been awarded the Contract on 01.10.2022 with total value of INR 2,212 crore (including taxes & duties and including O&M for 3 years). Contract Agreement for the project has been signed between NTPC REL and SWRE.

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

Mr. Amit Jain – Global CEO, Sterling and Wilson Renewable Energy Group said, “We are excited to win this prestigious order from NTPC REL which is our largest domestic order till date. This win demonstrates the trust and leadership of SWRE’s project management capabilities and global expertise. Our understanding of customer needs, and excellent execution track record coupled with world class technology and O&M proficiency is what differentiates us from other EPC players.”

Commenting on the order win, Mr. Chandra Kishore Thakur, CEO – Asia, Africa, Latin America and Europe said, “This order is paramount for India’s growing need for clean and sustainable energy in line with the government’s vision. As a homegrown company, this order win from NTPC REL reinforces our position as one of the leaders in the EPC space. Along with our exponential growth in the international market over the past decade, we continue to remain a dominant player in the domestic market as well”.