Sterling & Wilson up 6% on order wins worth Rs 1,600 crore in Australia

Shares of Sterling & Wilson Solar climbed 6 per cent to Rs 285 on the BSE on Monday after the company announced that it has signed orders worth around Rs 1,600 crore (AUD 300 million) in Australia.

“The company along with its branch and Australian subsidiary has bagged two large scale solar projects in the country which will have an installed capacity of over 300 MW. The new projects have been secured from global independent power producer (IPPs), the work for which is expected to commence immediately,” Sterling & Wilson Solar said in a press release.

The company’s total order book in Australia now stands at about AUD 1.2 billion (around Rs 6,350 crore) with five projects and a portfolio of more than 1.1 GW, making us the largest home-grown solar engineering, procurement and construction (EPC) player in the region, it said.

Sterling and Wilson Solar, a Shapoorji Pallonji group company, is a global pure-play, end-to-end solar EPC solutions provider. The company also provides operations and maintenance (O&M) services, including for projects constructed by third parties and offers solar plus storage solutions to its customers.

At 09:17 am, the stock was trading 4 per cent higher at Rs 280 on the BSE, as compared to 0.08 per cent rise in the S&P BSE Sensex. A combined around 25,000 equity shares have changed hands on the counter on the NSE and BSE, so far.

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