Sterling & Wilson Renewable Energy secures L1 position for a 245 MW solar PV project in Gujarat. Learn about the deal, company growth, financial performance, and market outlook.

Sterling & Wilson Renewable Energy Secures 245 MW Solar PV Project in Gujarat

Sterling & Wilson Renewable Energy (SWREL) announced it has been declared the lowest bidder (L1) by a public sector developer for the execution of a 245 MW (AC) grid-connected solar PV project in Gujarat, India.

The project will be delivered as a turn-key EPC (Engineering, Procurement, and Construction) package, reinforcing SWREL’s leadership in India’s rapidly expanding renewable energy sector.

Order Inflow Crosses ₹2,000 Crore in 2025

Chandra Kishore Thakur, Global CEO of SWREL, said:

“We are excited to continue building our gross order inflows (including L1) which have exceeded ₹2,000 crore this year. This strengthens our domestic market position and reaffirms our role as a trusted partner in the renewable industry. The overall renewable market remains buoyant, with ordering activity picking up — a positive sign for EPC players.”

About Sterling & Wilson Renewable Energy

• Global Presence: A pure-play renewable EPC provider with operations across multiple geographies.
• Core Services: Utility-scale solar, floating solar, hybrid projects, and energy storage solutions.
• Client Base: Utilities, IPPs (Independent Power Producers), and industrial clients worldwide.

Financial Performance – Q1 FY26

In the latest quarter, SWREL reported:

• Net Profit: ₹31.97 crore, up 663% YoY
• Net Sales: ₹1,761.63 crore, up 92.5% YoY

Despite the strong operational performance, the company’s stock price dipped 1.37% to ₹273.50 on the BSE in the last trading session.

Market Outlook

Short-Term:

This 245 MW Gujarat project adds significantly to SWREL’s domestic portfolio, with execution likely to begin soon. The EPC segment is expected to benefit from India’s focus on renewable capacity expansion to meet 2030 clean energy targets.

Medium-Term:

SWREL’s ability to win large projects in both domestic and international markets could help sustain revenue growth. The renewable EPC space remains competitive, but government incentives and private sector investments may support margins.

Long-Term:

India’s solar capacity is projected to grow exponentially over the next decade. SWREL’s proven track record, global expertise, and scale could position it as a key beneficiary of the energy transition.

Bottom Line:
The latest Gujarat solar project win not only boosts Sterling & Wilson Renewable Energy’s order book but also signals continued momentum in India’s renewable push. With strong financial growth and a healthy project pipeline, SWREL could be well-placed for sustained expansion in the clean energy EPC market.