Sterling & Wilson Renewable Energy shares jump 4% after securing Rs 4,800 crore Egypt solar project

Sterling & Wilson Renewable Energy (SWREL) shares jumped nearly 4% in early trading on Tuesday, June 30, after the company announced that its joint venture has secured a landmark renewable energy project in Egypt worth approximately USD 560 million (around ₹4,800 crore). The order further strengthens the company's international order book and reinforces its position as a leading global renewable EPC player.

As of 11:00 AM, Sterling & Wilson Renewable Energy shares touched an intraday high of ₹256.65, compared with the previous close of ₹244.35. The stock opened at ₹254.00, while the day's low stood at ₹246.11. Live trading volume was over 52.83 lakh shares, reflecting strong investor interest following the announcement.

The company said its 50:50 joint venture with Hassan Allam Construction has received a Letter of Award (LoA) for the West Minya Solar Power Project in Egypt's Minya Governorate. The project comprises a 1,000 MWac solar photovoltaic (PV) plant integrated with a 600 MWh Battery Energy Storage System (BESS) and is expected to become one of the largest utility-scale renewable energy projects in the country upon completion.

Under the agreement, the joint venture will execute the complete engineering, procurement and construction (EPC) scope of the project. This includes the installation of the solar PV facility, battery energy storage system, transmission infrastructure, grid interconnection works and all associated balance-of-plant systems.

Sterling & Wilson Renewable Energy said the latest contract marks its third gigawatt-scale order in the last nine months, highlighting growing customer confidence in its ability to deliver large renewable energy projects incorporating advanced battery storage technology.

Commenting on the development, Global CEO Chandra Kishore Thakur said the project reinforces the company's commitment to supporting Egypt's energy transition while strengthening energy security across the MENA region. He added that the award reflects the increasing scale of global solar projects and continued customer trust in Sterling & Wilson Renewable Energy's execution capabilities.