Sterling and Wilson Solar signs its largest order in Australia
- May 18, 2020
Sterling and Wilson Solar Ltd, along with its branch and Australian subsidiary, has announced that it has signed an EPC contract of approx. AUD 525 million (Rs.2,600 crore), which is its largest order in Australia.
The order, whose finer details were not divulged, also includes the O&M contract worth AUD 85 million (Rs.415 crore). The duration of the O&M contract is for a maximum period of 20 years, a statement from Sterling and Wilson Solar said.
With this award, SWSL has clearly established its presence in Australia, within a short period of 15 months of setting up its operations. With this order, the company’s cumulative order book in Australia adds up to approx. AUD 1 billion (Rs.4,900 crore), making it amongst the largest Solar EPCs in this very promising market.
Bikesh Ogra, Director and Global CEO, Sterling and Wilson Solar Ltd 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. Renewable sector plays a vital role in the world’s journey towards clean energy and as a home-grown company we are continuously working together with several stakeholders in supporting this vision. India continues to be a steady and focused market for SWSL. Along with our exponential growth in the international market over the past decade, we continue to remain a dominant player in the domestic market as well.”
In spite of the ongoing pandemic, SWSL has also signed two projects in India with leading global IPPs adding up to a value of Rs.620 crore, the statement added.
A substantial portion of the company’s international revenues for the current financial year will come from Australia, South America and the USA where the construction of solar projects has now commenced to full capacity. Renewable projects in India, which also add up considerably to the company’s revenues, have been allowed to restart now. SWSL is in the process of handing over projects which are being completed post lockdown and starting other projects. The worst impact of COVID-19 seems to have passed and the company is looking forward to increased activity in order booking and revenues.
(Featured photograph is for illustration only. Source: www.sterlingandwilson.com)