Sterling and Wilson Renewable Energy Wins $560 Million Egypt Solar & Battery Storage Project

Sterling and Wilson Renewable Energy Ltd (SWREL), through its 50:50 joint venture with Hassan Allam Construction, has secured a Letter of Award (LOA) for the West Minya Solar Power Project in Egypt, valued at approximately $560 million. The project includes the development of a 1,000 MWac solar photovoltaic (PV) plant integrated with a 600 MWh Battery Energy Storage System (BESS), making it one of Egypt’s largest utility-scale renewable energy projects. The joint venture will undertake the complete Engineering, Procurement and Construction (EPC) scope, including solar PV installations, battery storage systems, grid interconnection, transmission infrastructure and all supporting systems. This marks SWREL’s third GW-scale order in the last nine months, highlighting its growing presence in large-scale global renewable energy projects and the increasing demand for integrated solar and energy storage solutions. On the financial front, the company reported a strong Q4 net profit of ₹135 crore, more than doubling from ₹55.4 crore in the corresponding quarter last year. However, revenue declined 22.8% to ₹1,945 crore from ₹2,519 crore. Despite the lower revenue, EBITDA increased 9% year-on-year to ₹145.5 crore from ₹133.4 crore, while the EBITDA margin improved to 7.5% from 5.3%, reflecting better operational efficiency. The latest order further strengthens the company’s international order book and reinforces its execution capabilities in utility-scale renewable energy and battery storage projects. $SWSOLAR Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.