Sterling and Wilson Renewable Energy emerged one of the winners in the EPC deal valued at Rs 1,200 crore to develop the Gujarat solar project of 500 MW.
Sterlings and Wilson Renewable Energy Ltd, one of the leading renewable energy firms in Mumbai, has said that it has won a big order worth around ₹1,200 crore ($141 million) to develop a 500-MW solar project in Gujarat at a time when India is upping its commitment to renewable energy as it strives towards its clean energy goals. The company will be handling the BOS elements of the solar power plant with EPC designing, engineering, procurement, and construction by the company. BOS is a shortened term for all of that infrastructure and component necessary to support in running a solar energy system. Therefore, the BOS does not hold the solar panels but comprises all other elements. This deal would contribute hugely toward solar capacity growth in the region by Sterling and Wilson Renewable Energy.
Apart from this, the company has also managed to obtain a three-year O&M contract on turnkey basis for operating the project. Long term commitment to this scope in O&M reflects how well the company is engaged and not merely in construction phases but continues the same in maintaining solar structures through their lifetime-for their long-term efficiency and reliability.
Gujarat Solar Project: A part of India’s new shift towards renewable energy. Being one of the world’s countries with highly increasing demand for energy, India aims to reduce the usage of fossil fuels by enhancing its ability to produce renewable sources of energy such as solar, wind, and hydro power. The new 500 MW solar project will add much to India’s renewable energy goals, as the country has set a target of 500 GW of non-fossil fuel-based power capacity by 2030. Sterling and Wilson Renewable Energy has continuously developed its footprint in the Indian renewable energy market. With this mega project, it has shown major involvement of the company in India’s clean energy transformation. The company has constantly led the way in developing some of the largest solar and wind energy projects, further increasing its dominant presence in space.
The win is the second within a day after success at winning another huge deal worth ₹500 crore, an order for a 305 MW solar photovoltaic plant by Sterling and Wilson from a location in Rajasthan. It further enhances the company’s strong market holding in the Indian territory by further anchoring its presence in the IPP private sector. That much is capable in bagging these hefty orders justifies that the credentials and the competency under which Sterling and Wilson sails the renewable energy space are beyond question. With demand for renewable energy in India slated to jump manifold in the next few years, with the government likely to put an emphasis on clean energy and sustainable growth, Sterling and Wilson Renewable Energy stands to benefit most from such market opportunities. The company has been a success story in its space, continues to expand, and delivers commitments toward making India’s energy transition possible.
In the meantime, this would add another 500 MW solar power plant in Gujarat to the national grid, therefore adding to renewable energy in the country as well as increasing local jobs and stimulation of the economy in that region. This is so because large power-generating plants require a big number of manpower, technical skills, and support services for their development and maintenance operation. As it so happens, Gujarat has been a powerhouse for solar power, seeing many mega projects in the field are operational there. First, it is a bright sunny place, and then it provides policies and incentives from the government towards renewable energy that are quite attractive for investment in itself by these solar companies. The new venture by Sterling and Wilson at Gujarat will further add to enhancing the position of the state at the top, one among the leading ones for the generation of solar energy.
Conclusion:This can be ascribed from the fact that Sterling and Wilson Renewable Energy’s commitment to the key projects of the Indian market is sure to grow with the expansive potential of the Indian renewable market. Its future will go well in terms of supporting the forward-moving trajectory of India’s energy transition with vast expertise it has on the solar energy projects and gigantic portfolios of services it carries. This win will further strengthen Sterling and Wilson Renewable Energy as a healthy partner in the large-scale solar segment. The company is assisting India in achieving bold renewable energy targets through the promotion of sustainable economic development and job opportunities.
Source:ESG TIMES