Sterling and Wilson Renewable Energy Limited reported its first quarter results for fiscal year 27 with an unexecuted order value reaching Rs 130 billion (Rs 130 bn), its highest level since the COVID-19 pandemic. The company said this record UOV was supported by the award of a major international engineering, procurement and construction contract through a 50:50 joint venture with a leading contractor in Egypt and the Middle East and North Africa region. The contract is valued at about US$560 million and covers the West Minya Solar Power Project in Minya Governorate.

The scope of the West Minya project comprises a 1,000 megawatt (MW) alternating current utility scale solar photovoltaic plant integrated with a 600 megawatt hour (MWh) battery energy storage system (BESS). The project is expected to become one of Egypt's largest utility scale renewable developments on completion and will expand the company’s international footprint. Sterling and Wilson will execute the work under the joint venture arrangement and oversee engineering, procurement and construction delivery.

Domestically, the company’s EPC business continued to drive growth with an order book of approximately Rs 79 billion (Rs 79 bn), providing strong revenue visibility and sustaining gross margins in the range of nine to 10 per cent. Management reported a bid pipeline exceeding 27.7 GW, indicating significant opportunity across utility scale renewable projects. The group emphasised continued diversification into wind, battery energy storage systems and third party operations and maintenance services.

Chandra Kishore Thakur, the global chief executive officer, characterised the robust unexecuted order value as a reflection of customer confidence and as providing a foundation for future revenue and profitability. He noted that the experienced workforce remained focused on delivering projects on schedule while supporting continued business growth.