SW Solar shares jump 5.5% as company announces Rs 1,381-crore Adani Green order, signs 5-year deal

SW Solar (Sterling and Wilson Renewable Energy Ltd)

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26 Aug, 2025 12:21

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Sterling and Wilson Renewable Energy Ltd (SW Solar) shares jumped as much as 5.5 percent in the opening trade on Monday, after the company announced a significant domestic order win from Adani Green Energy, alongside a new long-term strategic partnership.

SW Solar stock rose to a high of Rs 238.5 on NSE in the early trading, against the previous closing price of Rs 225.96. The stock is down about 50 percent year-to-date, with the company’s current market capitalisation at about Rs 5,480 crore.

In a filing to the exchanges, SW Solar said it has secured an EPC Balance-of-System (BOS) package worth around Rs 1,381 crore for three solar projects located at the Khavda Renewable Energy Park in Gujarat. The order includes supply of goods and onsite services and marks the company’s latest addition to what it describes as one of the world’s largest renewable energy project sites.

Alongside the project award, the company signed a 5-year Strategic Partnership Framework Agreement with Adani Green Energy, aimed at future renewable energy rollout in India. It is the first purchase order under this framework and comes even as SW Solar continues to execute around 6 GW of projects in the Khavda region, with 5 GW scheduled for completion this fiscal year. With this 1 GW addition, the company said it continues to maintain a dominant position in Gujarat.

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With this order, SW Solar’s total inflows for the fiscal have crossed Rs 6,450 crore, up from the previously reported figure of Rs 5,088 crore after its recent South Africa project win. The company said its overall pipeline remains strong.

Last week, the stock had moved higher after SW Solar announced a Rs 1,313-crore overseas EPC order for a 240 MW AC solar project in South Africa -- its second win in that market this fiscal. The company is implementing four solar PV projects with four developers in South Africa, and management has highlighted robust ordering momentum during the year.

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