Sterling and Wilson Renewable Energy (SWREL) has received a letter of intent (LOI) from a private independent power producer for the engineering, procurement, and construction (EPC) of the balance of system (BoS) package for a 300 MW solar project in Rajasthan.

The estimated contract value of the project is ₹4.15 billion (~$47 million).

The scope of work includes EPC for the BoS of a 300 MW solar power project with a 220/33 kV substation in Rajasthan, as well as the operation and maintenance (O&M) of the project.

In a regulatory filing, SWREL reported gross order inflows exceeding ₹24 billion (~$271.8 million) this year.

SWREL is a global, pure-play provider of end-to-end EPC services for the renewable energy sector.

Its offerings include EPC services for utility-scale solar, floating solar, and hybrid and energy storage projects, with a total portfolio exceeding 22.8 GW, comprising commissioned and under-construction projects.

It also manages an O&M portfolio of 9.3 GW of solar projects, including assets built by third parties.

In August 2025, SWREL won NTPC Renewable Energy’s EPC auction to set up a 245 MW solar project in Khavda Renewable Energy Park in the Rann of Kutch, Gujarat. As part of the contract, SWREL will provide comprehensive O&M services for three years.

In the first quarter (Q1) of the financial year 2026, SWREL’s revenue rose to ₹17.62 billion (~$204.88 million), a 93% year-on-year increase from ₹9.15 billion (~$106.4 million). This growth was driven by a ramp-up in the execution of EPC projects across domestic and international markets.

In an interview on the sidelines of the Mercom India Renewables Summit 2025, held in New Delhi on July 24-25, 2025, Vaibhav Roongta, Chief Business Officer at Rays Power Infra, discussed the bottlenecks in EPC projects and advised EPC companies to set reasonable deadlines amidst equipment crunches.