Shares of Sterling and Wilson Renewable Energy Ltd. rallied by 5% to touch a day’s high of Rs 689.15 on 26 July after the company announced bagging two orders worth Rs 328 crore.

These orders consist of a battery energy storage system in Rajasthan and a floating solar project in Karnataka. The company was awarded an EPC contract for a 1,000 MWh battery energy storage system in Rajasthan.

The 500 x 2 MWhr BESS plant is the largest of its kind in India and one of the few GWhr-scale projects worldwide. It is scheduled for completion by 2025 and will significantly boost India’s BESS capacity, which was about 219 MWh as of March 2024.

The National Electricity Plan 2023 projects an increase in energy storage capacity needs, aiming for 82.37 GWh by 2026-27. The company also secured a 20 MW floating solar project in Karnataka, their third such project in India.

These projects are crucial for India’s shift to reliable renewable power. Being chosen as the preferred EPC partner highlights Sterling and Wilson’s expertise in energy storage and engineering. This positions the company well in the growing solar and storage markets.

The total order value, including operation, maintenance, and taxes, is around Rs 328 crore.

At 3:02 PM, the shares of Sterling and Wilson were trading 4.16% higher at Rs 684.10 on BSE.

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