Sterling And Wilson Solar signs $337 M order in Australia
Sterling and Wilson Solar Ltd, with its branch and Australian subsidiary, has signed an EPC contract of approx. $337 M, which is its largest order in Australia.
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Australia: Sterling and Wilson Solar Ltd, along with its branch and Australian subsidiary, has announced that it has signed an EPC contract of approx. $337 M (AUD 525 M / Rs.2,600 crore), which is its largest order in Australia.
The order, whose finer details were not divulged, also includes the O&M contract worth $54 M (AUD 85 M / Rs.415 crore). The duration of the O&M contract is for a maximum period of 20 years, a statement from Sterling and Wilson Solar said.
With this award, SWSL has clearly established its presence in Australia, within a short period of 15 months of setting up its operations. With this order, the company’s cumulative order book in Australia adds up to approx. (AUD 1 B / Rs.4,900 crore), making it amongst the largest Solar EPCs in this very promising market.
In spite of the ongoing pandemic, SWSL has also signed two projects in India with leading global IPPs adding up to a value of $81 M (Rs.620 crore), the statement added.
A substantial portion of the company’s international revenues for the current financial year will come from Australia, South America and the USA where the construction of solar projects has now commenced to full capacity.
Renewable projects in India, which also add up considerably to the company’s revenues, have been allowed to restart now. SWSL is in the process of handing over projects which are being completed post lockdown and starting other projects. The worst impact of COVID-19 seems to have passed and the company is looking forward to increased activity in order booking and revenues.
Source: T&D India