Sterling and Wilson Renewable Energy’s share prices surged more than 6% after the company announced that it had acquired a letter of intent for a significant new order worth around ₹1,200 crore in Gujarat. Shares of Wilson Renewable Energy and Sterling increased 6.81% to ₹471.00 each on the BSE.
The company was given an order for the design, engineering, procurement, and construction of the balance of system (BOS) for a 500 MW (AC) solar PV project on an EPC basis. For three years, it will also provide comprehensive O&M in addition to EPC with single-point responsibility.
“India is one of the world’s largest energy markets and must focus on sustainable options to mitigate climate challenges while strengthening energy security, job creation and economic growth. We therefore remain confident about the future growth of India’s renewable energy sector and our increased role towards supporting it”, Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group.
An international provider of pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions is Sterling and Wilson Renewable Energy. With a portfolio of more than 20.7 GWp, the company offers EPC services for utility-scale solar, floating solar, hybrid, and energy storage systems.
Additionally, the business oversees the operation and maintenance (O&M) portfolio of 7.8 GWp solar power installations, including those built by outside parties.
Stock Price Trend
The shares of Wilson Renewable Energy and Sterling have increased by more than 7% year-to-date (YTD) after dropping 33% during the last three months. The returns on the renewable energy stock have exceeded 22% over the last three years.
With a market capitalization of ₹10,745 crore, Sterling and Wilson Renewable Energy shares were up 3.74% at ₹460.15 each on the BSE at 10:20 AM.
