Shares of Sterling and Wilson Renewable Energy Ltd soared 8% on Monday, 23 December, after the company announced receiving a Letter of Intent (LoI) for a solar project in Gujarat valued at Rs 1,200 crore. 

The scope of order encompasses the design, engineering, procurement, and construction (EPC) of the Balance of System for a 500 megawatt (MW) (AC) Solar PV project. Alongside delivering EPC services with single-point accountability, the project will also feature complete operation and maintenance for a duration of three years.

Amit Jain, global CEO of Sterling and Wilson Renewable Energy Group, expressed the company’s pride in winning the prestigious prize and highlighted its role in India’s sustainable energy revolution. 

Jain added, “This project supports India and especially Gujarat’s clean energy transition. We are immensely satisfied that our customers continue to trust our team as part of their growth in the domestic renewable market.”

Sterling and Wilson Renewable Energy is a full-service provider of renewable engineering, procurement, and construction services. Earlier this year, the business received two solar EPC orders worth Rs 512 crore from private independent power producers. These included a 250 MWp DC project in Gujarat and a 65 MWp DC project in Maharashtra.

Separately, Sterling and Wilson Renewable Energy’s promoters, Khurshed Yazdi Daruvala and Shapoorji Pallonji and Co. sold off 7.13% of the company in September.

At 12:56 pm, the shares of Sterling and Wilson were trading 7.34% higher at Rs 475.75 on NSE.

The future of investing is here!
Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app todayand 10x your trading & investing journey!