Sterling and Wilson Solar

The Indian multinational, which has 11.4 GWp of solar EPC portfolio and 8.1 GWp operations and maintenance, aims to use its project management skills and strong stakeholder relationships to become a global leader in the future energy market.

However, one-off exceptional events in the fourth quarter hit the solar EPC player’s overall fiscal performance. These included a prime subcontractor going bankrupt in Australia, rising module prices, and increased freight costs. 

Amit Jain has been instrumental in developing the US and Australia as key markets for the Company in his previous role as Country Head for US and Australia. 

The developer added 825 MW of solar capacity during the fiscal. This, together with 100 MW of new wind, raised the developer’s total operating renewable capacity to 3,470 MW. 

The Indian multinational has landed a second order from an existing client for the turn-key execution, operation, and maintenance of a solar project. With this, its cumulative order book in the USA has swelled to around US$ 260 million (INR 1,880 crore).

The Indian multinational player, which has a solar engineering, procurement and construction portfolio of more than 10.6 GWp globally, says the latest addition will be among Egypt’s largest PV projects.

The latest addition is the Indian multinational’s second project in Oman after a 125 MWp solar plant commissioned in June last year.

Having bagged large orders in the U.S. and Australia, Indian multinational engineering, procurement and construction (EPC) services provider Sterling and Wilson Solar is bidding for tenders in regions which have eased up business lines, Europe among them. Kannan Krishnan, S&W’s chief operations officer for solar in India and the South Asian Association for Regional Cooperation area, speaks to pv magazine about the impact of Covid-19 on the solar EPC business and the company’s expansion plans.

In its largest order in Australia, the Indian multinational company has bagged Rs 2600-crore (AUD 525 million) EPC work along with Rs 415-crore (AUD 85 million) operations and maintenance job.

The Shapoorji Pallonji Group’s solar EPC business will hit the capital markets with an initial public offering on Aug. 6.