Sterling and Wilson Renewable Energy Limited (SWREL) has strengthened its international footprint by winning a second major contract in South Africa this financial year, taking the company’s total order inflows for the period to more than ₹5,088 crore.
The Mumbai-headquartered firm announced on Thursday that it has received a Letter of Award for a 240 MW AC solar photovoltaic (PV) project on a turnkey basis. The contract is valued at about USD 147 million, or roughly ₹1,313 crore.
Growing presence in South Africa
The latest project expands SWREL’s portfolio in South Africa to four solar PV contracts, each secured from different developers. The company said two of these projects were awarded in the previous fiscal year and are already progressing well, helping it establish a strong operational base in the market. The remaining two, including the latest award, were secured within the past two months.
Industry analysts say South Africa’s solar sector is experiencing accelerated growth, driven by corporate demand for reliable power, falling renewable energy costs, and the need to stabilise the grid amid ongoing electricity shortages.
‘A key international market’
Chandra Kishore Thakur, Global CEO of SWREL, said the company was “very excited” about its continued success in South Africa.
“We have secured our second international order from South Africa this fiscal within just two months. The country remains a key market for us, where we are currently executing four PV projects with four reputed customers, reflecting our strong value proposition,” he said.
Thakur added that the latest contract takes the company’s total order inflows this fiscal year to nearly ₹5,088 crore, signalling robust momentum in its international and domestic project pipeline.
SWREL, listed on both the BSE and NSE, is one of India’s prominent renewable energy engineering, procurement and construction (EPC) companies.
