Sterling and Wilson Renewable Energy hits 5% upper circuit on ₹328-crore order win

The company informed the exchanges in a filing that it has received an order for the engineering, design, procurement, erection, testing and commissioning of a 500 MWhr x 2 (1,000 MWhr) - standalone Battery Energy Storage System (BESS) plant in Rajasthan.

Sterling and Wilson informed the bourses that the project is the single largest stationary battery energy storage project in India. The company also said that there are very few projects of such scale in a single location globally.

The total installed capacity of BESS in India currently stands at 219 MWhr as of March 2024. The Central Electricity Authority (CEA) estimates India’s energy storage capacity requirement to be 82.37 GWh (47.65 GWh from Pumped storage Plants and 34.72 GWh from Battery Energy Storage Systems) in 2026-27, according to the National Electricity Plan (NEP) 2023.

The company also bagged another order for a 20 MW Floating Solar project in Karnataka from the same client. The 20 MW floating solar project will be Sterling and Wilson’s third such project in India.

Sterling and Wilson Renewable Energy Limited is a global renewable engineering, procurement, and construction (EPC) solutions provider. The company also offers services for utility-scale solar, floating solar, hybrid energy storage solutions. The company’s portfolio comprises over 19.4 GWp. The company is present in 28 countries.

Shares of Sterling and Wilson Renewable Energy closed 4.81% higher at ₹687.9 apiece on the NSE.