Sterling and Wilson Solar Limited wins fifth project in Latin America

Signs order of 106.71 MW worth USD 62.6 mn in Chile

Mumbai. Sterling and Wilson Solar Limited (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), today announced that it has signed an order of 106.71 MW worth USD 62.6 million (~INR 462 crores) in Chile.

The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY 2021.

Sterling and Wilson Solar Limited, one of the leading solar EPC and O&M players in the world, already has a strong presence in the region with one project of 93.3 MW in Argentina and three projects of 588 MW under construction in Chile.

Speaking on the project win, Mr. Bikesh Ogra – Director and Global CEO, Sterling and Wilson Solar Limited said, “We are excited to win our fifth project in Latin America. Our continuous focus in the market has reaped rich benefits with these prestigious project wins.

We have established ourselves in Latin America with a cumulative order book of around USD 488 million (~INR 3,558 crores), making us amongst the leading players in the region.

Commenting on the Chilean market, Mr. Ogra added, “Chile is one of Latin America’s fastest-growing economies in recent decades thanks to its solid macroeconomic framework.

This coupled with a global race to energy transition enables increasing participation of foreign companies in the Chilean renewable energy market making it one of the key focus regions for us.”

Sterling and Wilson Solar Limited has been executing projects globally and has to its credit more than 10.5 GW of solar power projects (commissioned and under various stages of construction) in various geographies.

This portfolio includes a 1,177 MW Solar PV plant in Abu Dhabi – the world’s largest single-site solar plant. The Company also manages a portfolio of 7.8 GW of O&M projects globally, a testament to its best-in-class services.