Sterling & Wilson spikes 6% on Rs 2,100-crore NTPC REL order

Sterling & Wilson emerged as a successful bidder for a project worth Rs 2,100 crore for the balance of system (BOS) package comprising 4 blocks of 300MW(AC) each in the proposed 1200 MW Solar PV Project of NTPC Renewable Energy Ltd (NTPC REL) at Khavda RE Power Park, Rann of Kutch, Gujarat.

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The Sterling & Wilson Renewable Energy stock price jumped 6 percent in the morning session on March 21, a day after the company bagged orders worth Rs 2,100 crore.

Sterling & Wilson has bagged the job of a balance of system (BOS) package comprising four blocks of 300MW(AC) each in the proposed 1,200-MW solar PV project of NTPC Renewable Energy Ltd (NTPC REL) at Khavda RE Power Park in the Rann of Kutch in Gujarat.

The aggregate capacity is 1500 MW (DC). The total bid value, including operation and maintenance (O&M) for three years, would be Rs 2,100 crore (inclusive of taxes), it said.

At 9:30am, Sterling and Wilson Renewable Energy was quoting at Rs 318.00, up Rs 18.60, or 6.21 percent, on the BSE. It touched an intraday high of Rs 319 and an intraday low of Rs 311.

The company provides EPC services for utility-scale solar, floating solar and hybrid and energy storage solutions with presence in 25 countries. It has a portfolio of 12.8 GW apart from managing operations and maintenance portfolio of around 6 GW.

The company managed to narrow its consolidated net loss to Rs 99.15 crore during the December quarter, mainly due to lower expenses. It had reported a consolidated net loss of Rs 428.78 crore in the year-ago period, according to an exchange filing.