Sterling & Wilson Renewable shares jump 7% on reports of $560 million Egypt solar project win

Sterling and Wilson Renewable’s share price jumped over 7% during the market hours on Tuesday, June 23, after reports suggested that the company had secured a $560 million EPC order contract for a solar power project in Egypt, in collaboration with Hassan Allam Holding.

Sterling and Wilson Renewable shares surged 7.3% to their intraday high of ₹260.80 during Tuesday’s stock market session, compared with ₹242.91 at the previous market close, according to NSE data.

After the rally during the morning market hours, the stock witnessed a sharp retreat, trading around 3% higher on the stock exchange. As of 12:25 pm, the stock was trading 2.45% higher at ₹248.82 on Tuesday.

$560 million EPC order win

According to a Saudi Gulf Projects report, Hassan Allam Holding’s subsidiary, Hassan Allam Construction and Sterling and Wilson Renewable Energy, in a joint venture, was awarded an engineering, procurement, and construction (EPC) order for the $560 million West Minya Solar Power Project in Egypt.

As per the details of the deal, the EPC project will feature 1,000 MWac (megawatts of alternating current) of solar power generating capacity, along with a 600 MWh battery energy storage system (BESS).

The joint venture company will work on the installation of photovoltaic generation facilities, battery energy storage infrastructure, grid interconnection works, transmission facilities, and all associated balance-of-plant and supporting systems required for the project.

The project is being developed by Hassan Allam Utilities Energy Platform in collaboration with the European Bank for Reconstruction and Development (EBRD), Meridiam, and Infinity Power Holding.

Upon completion, the West Minya Solar Power Project is expected to deliver clean electricity to Egypt’s national grid, improve the country’s renewable energy infrastructure, and support long-term sustainability.

How have Sterling & Wilson shares performed?

Sterling & Wilson Renewable Energy's share have given flat returns over the last five years, but the company’s stock has lost 14% in the last three years, and is down nearly 19% in the past one year.

On a year-to-date (YTD) basis, shares of Sterling & Wilson have gained nearly 16%, and have risen 25% in the last one month. The company’s stock has delivered more than 16% returns over the last five trading sessions on NSE.

Shares of the company surged to a 52-week high of ₹341 on July 15, 2025, while the 52-week low was at ₹148 on March 30, 2026, according to the exchange data. The company’s market capitalisation (m-cap) was at ₹5,857 crore as of the trading session on Tuesday.