Shares of Sterling and Wilson Renewable Energy Ltd were trading 3% higher on 2 December after the company announced securing an order worth Rs 504 crore from a private player in Rajasthan. 

In its regulatory filing, the company said, “The company has received a Letter of Award (LOA) for the supply, installation, and commissioning of a 305 MW AC / 396 MWp DC PV plant for a solar project in Rajasthan, India, from a repeat customer. With significant growth in private Independent Power Producer (IPP) projects, we are also witnessing a robust pipeline of projects, particularly from the private sector and our repeat clients.”

Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Group, shared, “We have been making strong in-roads in the domestic Private IPP market this year and this new project win reflects our strong positioning and bears testament to our domestic value proposition. Beside the strong order pipeline we are seeing in the private sector there are a large number of bids expected from PSUs in Q4 which augurs well for achieving our order booking target for the year.”

Earlier on 27 September, Morgan Stanley, Citigroup, and Societe Generale acquired a 2.8% stake in the company through an open market transaction, wherein the promoter of the company sold a 7.13% stake in the company. 

At 12:44 pm, the shares of Sterling and Wilson were trading 1.23% higher at Rs 492.45 on NSE. 

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