A
What happened
Sterling and Wilson Renewable Energy Ltd (SWREL) has secured a major order valued at around Rs 1,400 crore from Adani Green Energy Ltd (AGEL) for solar power projects in Gujarat. This order includes a Balance of System (BOS) contract for three solar projects at the Khavda Renewable Energy Park, a significant site for renewable energy. This marks the first purchase order SWREL has received from AGEL. The company is currently working on 6 GW of projects in the Khavda region, with 5 GW expected to be completed in the current fiscal year. The CEO of SWREL expressed enthusiasm about the strategic partnership with Adani Green, which aims to enhance their leadership in the rapidly growing Indian solar market. With this new order, SWREL's total order inflows for the fiscal year have exceeded Rs 6,450 crore.
★
Key insights
-
1
First Order from Adani Green: This is SWREL's inaugural purchase order from Adani Green Energy.
-
2
Significant Project Scale: The order involves three solar projects at a major renewable energy hub.
-
3
EPC Leadership: SWREL aims to strengthen its EPC leadership in the Indian solar market.
Takeaways
The partnership between SWREL and Adani Green Energy is expected to bolster the renewable energy sector in India, particularly in solar energy projects.