Sterling and Wilson Renewable Energy Limited (SWRE) saw its shares surge over 5% on the BSE on Friday, following the announcement of a third order from NTPC Renewable Energy. The order, valued at Rs 1,535 crore (Rs 1 crore = $120,252), is for an Engineering, Procurement and Construction (EPC) project at Gujarat's Khavda RE Power Park.
This new order comes within a year of SWRE's previous engagements with NTPC Renewable Energy and increases the company's existing portfolio under execution for NTPC REL to 2.77 GWac. The contract price includes operations and maintenance (O&M) for three years.
Amit Jain, SWRE's Global CEO, announced that the company has secured Rs 3,100 crore in bookings year-to-date. This latest order from NTPC Renewable Energy contributes significantly to the total bookings for the year.
The Khavda RE Power Park project adds to SWRE's growing renewable energy portfolio and strengthens its ongoing relationship with NTPC Renewable Energy. With this latest order, the company continues to consolidate its position in India's renewable energy sector.
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