InvestorQ : Can you tell me about the big solar order that Sterling and Wilson has received from Egypt?
vidhya Laxmi made post

Can you tell me about the big solar order that Sterling and Wilson has received from Egypt?

sarah Leo answered.
1 year ago

The order has been won by Sterling and Wilson of the Shapoorji Pallonji group for implementation of solar installations in Egypt. Here are the highlights of what you need to know about the deal.

· Sterling and Wilson of Pallonji Mistry group recently announced that it had signed a definitive agreement worth Rs.930 crore for a renewable energy installation in Egypt.

· The implementation in Egypt is for a leading Saudi Arabian renewable energy company. The project is scheduled to be commissioned by the first quarter of 2022.

· The company officials have already confirmed that this would be one of the largest and most prestigious renewable energy projects in Egypt and would place Sterling and Wilson in a different league altogether.

· Sterling and Wilson specializes in solar Engineering, Procurement and Construction or EPC as well as Operations and Maintenance or O&M as part of the order.

· It may be noted that Sterling and Wilson has till date executed five projects of over 322 MW in the Benban Solar Park based out of Egypt.

· Winning this project is an important milestone for Sterling and Wilson to further strengthens its focus in the MENA region; a critical market for the company.

· Sterling and Wilson Solar already has more than 10.6 GW of solar power projects that are either commissioned or under various stages of construction across the world.

· In addition, Sterling and Wilson also manages a portfolio of 8 GW worth of Operation & Maintenance projects across over 25 countries.

· Sterling and Wilson has reported robust order inflows of Rs.7,046 crores during the current calendar year including the latest Rs.930 crore Egyptian order.

· For the nine months to Dec-20, revenue from operations for Sterling and Wilson stood at Rs.3,716 crores with positive EBITDA.

· Sterling and Wilson is confident of order flows and business prospects in the near to medium term future as most of their clients are looking at significant capacity additions.