Sterling and Wilson Solar bags EPC contract in Australia for Rs 2600 crore

Our Bureau Mumbai | Updated on May 17, 2020

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Sterling and Wilson Solar Limited (SWSL)has bagged an Engineering Procurement Construction (EPC) contract in Australia for Rs 2,600 crore.

Further, the contract includes operation and maintenance which is estimated to be worth Rs 415 crore for 20 years, the company said in a statement.

This contract, its largest in Australia, comes within 15 months of setting up operations there.

With this order, the Shapoorji Pallonji backed company’s cumulative order book in Australia is estimated to be Rs 4,900 crore.

A substantial portion of the company’s international revenues for the current financial year will come from Australia, South America and the United States (US) where the construction of solar projects has now commenced, the company said. However, it did not provide details of the revenue breakup.

Bikesh Ogra – Director and Global CEO, Sterling and Wilson Solar Limited said, “This is our largest order in Australia and is a culmination of efforts to break new ground in countries like Australia, the United States and South America, where SWSL has invested in a strong team that is completely aligned with the local requirements."

SWSL has a presence in 25 markets. It also provides operations and maintenance services, for third party projects. Its main markets span Asia, Australia, West Asia, Africa, Europe, and the Americas.

Renewable projects in India, which also add up to the company’s revenues, have been allowed to restart now. SWSL is in the process of handing over Covid-19 seems to have passed and the Company is looking forward to increased activity in order booking and revenues, the company said.

Additionally, Sterling and Wilson has signed two projects in India with independent power producers which is valued at Rs 620 crore.

Published on May 17, 2020

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