Prime Highlights
- SW Solar’s stock surged 5.5% after announcing a major ₹1,381-crore EPC order from Adani Green Energy for solar projects at Khavda, Gujarat.
- The new contract marks the first major award under a 5-year Strategic Partnership Agreement between SW Solar and Adani Green.
Key Facts
- The new EPC package covers three solar power projects totaling 1 GW at the Khavda Renewable Energy Park, one of the world’s largest renewable energy zones.
- With this order, SW Solar’s total order inflow for the year exceeds ₹6,450 crore, up from ₹5,088 crore following its South Africa project win.
Background
Sterling and Wilson Renewable Energy Ltd (SW Solar) shares climb 5.5% on Monday after the company announced a major new domestic order from Adani Green Energy. The stock rose to ₹238.5 on the NSE in early trading, compared to the previous close of ₹225.96.
In a regulatory filing, SW Solar said it has secured an EPC Balance-of-System package worth about ₹1,381 crore for three solar power projects at the Khavda Renewable Energy Park in Gujarat. The contract includes the supply of goods and on-site services. The company noted that the site is one of the largest renewable energy development zones in the world.
Along with the order, SW Solar signed a 5-year Strategic Partnership Framework Agreement with Adani Green Energy to support future renewable energy expansion in India. This new order is the first to be issued under the agreement.
The company is already working on around 6 GW of solar projects in the Khavda region, with 5 GW scheduled for completion in the current financial year. The latest 1 GW addition strengthens SW Solar’s position as a major EPC player in Gujarat.
Global CEO Chandra Kishore Thakur said this is SW Solar’s biggest domestic EPC win this fiscal and reflects the strong trust in its technical and execution strengths.
With the new contract, SW Solar’s total order inflow for the year has crossed ₹6,450 crore, up from the recently reported ₹5,088 crore after its South Africa project win. The company said its project pipeline remains solid for the coming months.
