SW Solar surges on emerging as successful bidder for Rs 2,100-cr solar project

Sterling and Wilson Renewable Energy jumped 4.96% to Rs 314.25 after the company emerged as the successful bidder for work of Solar PV project worth approximately Rs 2,100 crore.

In an exchange filing made after market hours yesterday, the company announced that it has emerged as the successful bidder for the balance of system (BoS) package comprising of four blocks of 300 MW (AC) each in the proposed 1200 MW Solar PV project of NTPC Renewable Energy at Khavda RE Power Park, Rann of Kutch, Gujarat, with an aggregate capacity of approximately 1500 MW (DC).

The total bid value, including operations and maintenance (O&M) for 3 years, would be approximately Rs 2,100 crore.

Sterling and Wilson Renewable Energy (SW Solar) is a global pure-play, end-to-end renewable engineering, procurement and construction (EPC) solutions provider.

The company reported a consolidated net loss of Rs 101.24 crore in Q3 FY23 as against a net loss of Rs 422.41 crore posted in Q3 FY22. Revenue from operations slumped 72.8% to Rs 406.96 crore in the quarter ended 31 December 2022 from Rs 1,494.86 crore recorded in Q3 FY22.

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