The duration of the O&M contract is for a maximum period of 20 years, company said.
Shares of Sterling and Wilson Solar were locked in 5 percent upper circuit on May 18 after signing of largest order in Australia with a value of around AUD 525 million.
The stock was trading at Rs 123.20, up Rs 5.85 or 4.99 percent on the BSE.
Sterling and Wilson Solar in its BSE filing on May 17 said it had signed (along with its branch and Australian subsidiary) an EPC contract of approximately AUD 525 million (Rs 2,600 crore) as well as the operation and maintenance (O&M) contract of AUD 85 million (Rs 415 crore), which is its largest order in Australia.
The duration of the O&M contract is for a maximum period of 20 years, it added.
With this order, the Shapoorji Pallonji group company's cumulative order book in Australia added up to approximately AUD 1 billion (Rs 4,900 crore), making it amongst the largest solar EPCs in this very promising market.
In spite of the ongoing pandemic, the solar EPC solutions provider said it has also signed two projects in India with leading global IPPs adding up to a value of Rs 620 crore.
"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," it added.Moneycontrol Virtual Summit presents 'The Future of Indian Industry', powered by Salesforce
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