Sterling and Wilson Renewable Energy Ltd (SWREL) has emerged L1 for a mega solar power project of NTPC Group, in Gujarat.
In a brief stock exchange filing, SWREL said that it has emerged L1 bidder for the balance of system (BOS) package comprising four blocks of the proposed solar photovoltaic plant of NTPC Renewable Energy Ltd (NTPC-REL, a wholly-owned subsidiary of NTPC Ltd).
The solar PV project is coming up at the Khavda Renewable Energy Power Park, in the Rann of Kutch, Gujarat, and has an aggregate capacity of around 1,570 mw (DC).
The total bid value, including O&M for a three-year period, would be around Rs.2,200 crore (inclusive of taxes), SWREL said in the stock exchange filing, adding that the formal letter of intent and contract signing would happen in due course.
Order book
Meanwhile, SWREL in a recent investor presentation, said that the company’s unexecuted order value (UOV) as of June 30, 2022, stood at Rs.2,098 crore. India accounted for 17.3 per cent of this UOV with the rest coming from international markets mainly MENA region, Australia, USA and Latin America.
SWREL expects an order pipeline of 23.1 GW during FY23 with India accounting for around one-third. The company estimates that order inflows would commence from the second quarter of FY23, which is from July 1, 2022, onwards.
It may be mentioned that the new order inflows for SWREL fell sharply to Rs.719 crore in FY22 from Rs.6,744 crore in FY21 and Rs.4,743 crore in FY20.
Also read: Sterling And Wilson Solar Commissions Its Third EPC Project In Jordan
Healthy PSU pipeline
SWREL also sees orders from Central public sector undertakings as a big opportunity to tap into. The investor presentation estimated that Central PSUs, led by NTPC, have so far commissioned solar power capacity of 4.78 GW, while another 9 GW is under execution. SWREL estimates the order pipeline coming from Central PSUs to be 9.7 GW in FY23, followed by 11.3 GW in FY24 and 13.7 GW in FY25.
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