Sterling and Wilson Renewable Energy Ltd (SWREL), an Indian multinational renewable EPC player, today announced that it has been awarded the turnkey EPC contract for a 240 MW AC solar PV project in South Africa, its second international order from South Africa this fiscal within a span of two months.
The total value of the latest contract is around $147 million (INR 1,313 crore).
With this new order, SWREL is currently implementing four turnkey solar PV projects with four reputed developers in the South African market. “The two ongoing projects bagged last fiscal have made strong operational progress and helped establish our presence in the market, while the two new projects bagged in the last two months significantly bolster our presence in the region,” stated the company.
The solar PV market in South Africa is witnessing strong growth due to corporate demand for energy security, declining costs, and grid stability.
“South Africa remains a key international market for us where we are currently implementing four PV projects with four reputed customers reflecting our strong value proposition and positioning in this market,” said Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy Ltd. “With this order win, SWREL has now achieved INR 5,088 crore of order inflows this fiscal, and ordering momentum continues to remain robust.”
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