Sterling and Wilson Solar share price gains 3% on winning Rs 890-crore order

The order has been received from a 'leading sustainable energy company' and is scheduled to be commissioned by Q4FY2022.

March 31, 2021 / 11:06 AM IST
 
 
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Sterling and Wilson Solar share price added 3 percent in the early trade on March 31 after the company said that its US subsidiary had won an order worth $121.7 million.

"Sterling and Wilson Solar Solutions Inc (SWSS), the US subsidiary of Sterling and Wilson Solar, has signed an order worth $121.7 million (~ Rs 890 crore) in the Pacific Northwest region of the United States of America," the company said in a press release.

The order has been received from a leading sustainable energy company and is scheduled to be commissioned by Q4FY2022. SWSS will be managing the entire turn-key execution for the PV project.

The order was from an existing customer in the US, it added.

“We are delighted to have won this order in the USA and with this project, our cumulative orders booked in the country now stand at around $260 million (~ Rs 1,880 crore). We are confident that as a global solar EPC company with state-of-the-art technology and project execution capabilities, we are well poised to be a significant player in this energy transition,” said Amit Jain–Country Head, Sterling and Wilson Solar Solutions, Inc said in the statement..

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At 0938 hours, Sterling & Wilson Solar was quoting at Rs 258.45, up Rs 6.20, or 2.46 percent, on the BSE.

The share touched a 52-week high of Rs 327 on March 24, 2021 and a 52-week low of Rs 69.75 March 31, 2020. It is trading 20.96 percent below its 52-week high and 270.54 percent above its 52-week low.
Moneycontrol News
first published: Mar 31, 2021 10:04 am

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