Sterling & Wilson Renewable Energy has secured contracts for a 1,000 MWhr battery storage system in Rajasthan and a 20 MW floating solar project in Karnataka, totaling Rs 328 crore.
Another highlight for the quarter was the reduction in net debt, with the total figure now reduced to Rs116 crore, compared to Rs1,966 crore at the end of financial year 2023. Reliance New Energy Ltd. owns a 32.54% stake in Sterling & Wilson, based on the company's shareholding pattern disclosed to the exchanges as of March 31, 2024.
During the fourth quarter of FY24, the company’s total income increased to Rs 1,211.40 crore from Rs 86.36 crore in a year ago.