Sterling and Wilson Renewable Energy wins order worth Rs 1,535 crore; stock jumps 5%

Shares of Renewables solution provider Sterling and Wilson Renewable Energy jumped over 5 per cent on Friday after the company said it has bagged an order worth Rs 1,535 crore from NTPC Renewable Energy.

As of 3:11 p.m. on BSE, shares of Sterling and Wilson Renewable Energy traded 3.54 per cent higher at Rs 361.05 apiece. The stock ended over 3 per cent higher at Rs 361.05 apiece.

Sterling and Wilson Renewable Energy Limited (SWRE) has received the notification of award for the EPC project of 300 MWac of NTPC Renewable Energy Limited (NTPC REL) at Khavda RE Power Park, Rann of Kutch, in Gujarat, a company statement said.

The total contract price, including O&M for 3 years, would be Rs 1,535 crore (inclusive of taxes).

The company has got the third order from NTPC REL in just over a year.

"The new order win of 300 MWac complements our existing portfolio of 2.47 GWac currently under execution for NTPC REL in Khavda and helps us leverage the low module price environment globally," Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Group, said in the statement.

"With this order, our year-to-date order booking stands at Rs 3,100 crore," he added.

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