Sterling & Wilson Renewable Energy (SWREL) announced that it has won its second international project from South Africa this fiscal.
The company has been awarded a turnkey EPC contract for a 240 MW AC Solar PV project in South Africa. The total value of the contract is approximately USD 147 million ( Rs 1,313 crore).
With this new order, SWREL is currently implementing four turnkey Solar PV projects with four reputed developers in the South African market. The two ongoing projects bagged last fiscal have made strong operational progress and helped establish our presence in the market, while the two new projects bagged in the last two months significantly bolster our presence in the region. The Solar PV market in South Africa is witnessing strong growth due to corporate demand for energy security, declining costs, and grid stability.