Sterling and Wilson Renewable Energy Ltd (SWRE) announced that it has received a notification of award from NTPC Renewable Energy Ltd (NTPC REL) for a solar power project-related EPC contract.
The EPC contract, valued at Rs.1,535 crore (inclusive of taxes) relates to NTPC REL’s upcoming 300 MWac solar project at Khavda RE Power Park, Rann of Kutch, Gujarat. The contract also includes O&M for a period of three years. The formal contract signing is likely to happen in due course, SWRE said in a release.
This is the third order for SWRE from NTPC REL in just over a year. This 300 MWac project is synergistically located between the first two projects won.
YTD order booking crosses Rs.3,000 crore
According to Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group, “The new order win of 300 MWac complements our existing portfolio of around 2.47 GWac currently under execution for NTPC REL in Khavda and helps us leverage the low module price environment globally.
With this order, our year-to-date order booking stands at around Rs.3,100 crore. The domestic order pipeline continues to remain strong and we’re confident of surpassing the FY23 order booking in this financial year. Over the past decade, we have been a dominant player in the domestic market and are poised to delivering high-quality renewable solutions that drive sustainability and make a positive impact on the world and look forward to spearheading the journey with continuous growth and innovation.”
Third order from NTPC REL
According to information available with T&D India, SWRE’s first order from NTPC REL pertaining to Khavda RE Park was announced in October 2022. This was for 1,255 MWac worth of capacity and the order was valued at Rs.2,212 crore. The second order, placed in March 2023, involved 1,200 MWac of capacity and a value of Rs.2,100 crore.
Also read: Sterling And Wilson Renewable Energy Wins Major Order In Gujarat
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