Sterling and Wilson Wins EPC Contract for 300 MW Solar Project from NTPC
The contract is valued at ₹15.35 billion
Sterling and Wilson Renewable Energy (SWRE) has received the Notification of Award from NTPC Renewable Energy (NTPC REL) for the engineering, procurement, and construction (EPC) of a 300 MW solar project at the Khavda Renewable Energy Park in Gujarat.
The total contract value, including operation and maintenance for three years, is ₹15.35 billion (~$184.8 million).
Construction of the project is anticipated to commence either towards the end of the third quarter or the beginning of the fourth quarter of this year. It is projected to be commissioned within the subsequent 12 to 18 months.
This marks the third collaboration between SWRE and NTPC REL within the span of over a year.
According to SWRE, this 300 MW project complements the location of the initial two projects secured by it. The formal contract signing is expected to be finalized soon.
The scope of the work includes design, engineering, manufacturing, supply, packing and forwarding, transportation, uploading storage, installation, testing, and commissioning of the solar project, including the supply of solar modules.
“We are delighted to win and partner again with NTPC. The continued partnership further demonstrates the trust and leadership of SWRE’s project management capabilities and global expertise. The new order win of 300 MW complements our existing portfolio of ~2.47 GW currently under execution for NTPC REL in Khavda and helps us leverage the low module price environment globally,” said Amit Jain, Global CEO at Sterling and Wilson Renewable Energy Group.
SWRE provides EPC services for utility-scale solar, floating solar, hybrid, and energy storage solutions. It has a total portfolio of 13.6 GW, including projects commissioned and under various stages of construction. It also manages an operation and maintenance portfolio of around 7 GW solar power projects.
Recently, SWRE received approval from its board of directors to raise ₹15 billion (~$180.38 million) through issuing various financial instruments.
The company earlier secured a letter of intent from Gujarat Industries Power Company for the EPC of a 600 MW solar power project at Khavda Solar Park. Consisting of two 300 MW blocks, the project encompasses design, engineering, supply, construction, testing, commissioning, and a three-year operation and maintenance contract. The total contract value, including taxes and duties, is approximately ₹11.3 billion (~$136.1 million).