Sterling and Wilson Renewable Energy Limited reported its financial and operational performance for the first quarter of FY27, with its Unexecuted Order Value (UOV) reaching approximately ₹13,000 crore, the company’s highest level since the COVID-19 pandemic.
During the quarter, SWREL also secured a major international engineering, procurement and construction (EPC) contract through a 50:50 joint venture with a leading contractor in Egypt and the Middle East and North Africa (MENA) region. The contract, valued at approximately US$560 million, is for the West Minya Solar Power Project in Egypt’s Minya Governorate.
The project includes the development of a 1,000 MW (AC) utility-scale solar photovoltaic (PV) plant integrated with a 600 MWh battery energy storage system (BESS). Upon completion, the project is expected to become one of Egypt’s largest utility-scale renewable energy developments.
SWREL said its domestic EPC business continued to drive growth during the quarter, supported by an order book of approximately ₹7,900 crore, providing strong revenue visibility and maintaining steady gross margins in the range of 9–10%.
Commenting on the results, Chandra Kishore Thakur, Global Chief Executive Officer of Sterling and Wilson Renewable Energy Group, said the company’s robust unexecuted order value reflects strong customer confidence and provides a solid foundation for future revenue and profitability. He added that the company’s experienced workforce remains focused on delivering projects on schedule while supporting continued business growth.
In addition to its record UOV, SWREL reported a bid pipeline exceeding 27.7 GW, reflecting opportunities across utility-scale renewable energy projects. The company also highlighted the continued diversification of its business portfolio, which now spans solar EPC, wind energy, battery energy storage systems (BESS), and third-party operations and maintenance (O&M) services.
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