Project Details
Sterling & Wilson Renewable Energy Ltd (SWREL) announced on Tuesday that it has secured a Letter of Award (LoA) worth about ₹415 crore from a leading private independent power producer (IPP).
The contract covers the balance-of-system EPC package for a 300 MW (AC) / 420 MWp (DC) solar power project, along with the construction of a 220/33 kV pooling substation in Rajasthan.
Management Comment
Chandra Kishore Thakur, Global CEO of SWREL, said:
“This order marks our first win from the private IPP segment this fiscal. It is a testament to our strong execution capabilities, and we continue to build on our gross order inflows, which have already crossed ₹2,400 crore this year.”
Financial Performance
- Q1 FY26 Net Profit: ₹38.7 crore (vs. ₹4.8 crore YoY)
- Revenue: ₹1,761.6 crore, nearly doubled year-on-year
- Drivers: Stronger domestic & international EPC execution, softer input costs, and operational efficiencies boosted margins
Company Profile
SWREL is a pure-play renewable EPC firm with:
- 22.8 GWp of projects delivered globally
- 9.3 GWp O&M portfolio spread across 28 countries
Summary
- Sterling & Wilson Renewable Energy secures ₹415 crore LoA for a 300 MW solar project in Rajasthan.
- The order is from a leading private IPP, covering EPC and substation development.
- Marks SWREL’s first private IPP order this fiscal and adds to its ₹2,400 crore+ order inflows this year.
- Strong financial recovery continues, with Q1 profit up nearly 8x YoY and revenue almost doubling.
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