Sterling & Wilson Wins ₹985 Crore Renewable Orders

Sterling and Wilson Renewable Energy Ltd. (SWREL) has secured two renewable energy orders worth more than ₹985 crore, including taxes, strengthening its solar EPC and energy-storage portfolio. The company announced the orders on September 22, 2026. The first order involves a 534.3 MWp solar project in Rajasthan from a leading independent power producer. The project covers the Balance of System (BOS) package and is expected to reduce carbon emissions by approximately 0.80 million tonnes after commissioning. The second order covers two Battery Energy Storage System (BESS) projects in South Africa, with a combined storage capacity of 616 MWh. Each project has a capacity of 308 MWh and will be executed on a turnkey EPC basis. The South African project has been awarded by a Middle East-based renewable energy developer that is an existing customer of SWREL. The company said this will be its second-largest utility-scale BESS project to date. The two orders provide SWREL with exposure to both large-scale solar generation and battery storage across India and international markets. My View: In my view, the orders strengthen SWREL's project pipeline and increase its exposure to the growing energy-storage segment. Execution, project margins and timely commissioning will be key factors to monitor.