Sterling and Wilson Renewable Energy Surges on $147 Million South Africa Solar Win
SWREL secured a $147M (Rs 1,313 Cr) EPC contract for a 240 MW AC solar project in South Africa, lifting its stock and bringing its fiscal order inflows to Rs 5,088 Cr.
Sterling and Wilson Renewable Energy Ltd (SWREL) saw its shares increase by 2.12% to ₹230.75 after winning a significant international order in South Africa. The company has secured a turnkey EPC contract for a 240 MW AC Solar PV project valued at $147 million (₹1,313 crore). This marks its second major project win in the country this fiscal year.
With this latest order, SWREL is now involved in four solar PV projects in South Africa. Two of these projects, awarded last fiscal year, have shown strong progress. This has helped the company establish a solid presence in the region. The two recent wins in the last two months further strengthen SWREL’s position in South Africa’s quickly growing solar market. Growth in the area continues to be fueled by rising corporate demand for reliable energy, lower costs, and efforts to stabilize the power grid.
Chandra Kishore Thakur, Global CEO of SWREL, commented on the achievement. He said, “We are very excited to announce our second international order from South Africa this fiscal within a span of two months. South Africa remains a key international market for us, where we are currently implementing four PV projects with reputable customers. With this order, SWREL has achieved ₹5,088 crore in order inflows this fiscal, and the order momentum remains strong.”
SWREL is a global provider of renewable EPC solutions. The company specializes in utility-scale solar, floating solar, hybrid systems, energy storage, and wind energy. It has a portfolio of over 24.4 GWp of projects worldwide, including completed and ongoing projects. SWREL also manages an operations and maintenance portfolio of 9.1 GWp, which includes projects developed by other companies.
Financially, the company reported a strong performance in Q2 FY26. Its consolidated net profit rose to ₹106.90 crore, compared to ₹7.05 crore in Q2 FY25. Revenue from operations increased by 69.7%, reaching ₹1,748.60 crore during the same period.