Sterling and Wilson Solar Limited signs its largest order in Australia with a value of ~ AUD 525 million

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Kolkata; May 17, 2020: Sterling and Wilson Solar Limited (SWSL) (BSE Scrip Code: 542760; NSE
Symbol: SWSOLAR), today announced that it has signed (along with its branch and Australian
subsidiary) an EPC contract of approx. AUD 525 million (~ INR 2,600 crore) as well as the Operation
and Maintenance (O&M) contract of approx. AUD 85 million (~ INR 415 crore), which is its largest
order in Australia. The duration of the O&M contract is for a maximum period of 20 years.
With this award, SWSL has clearly established its presence in Australia, within a short period of 15
Months of setting up the operations. With this order, the Company’s cumulative order book in
Australia adds up to approx. AUD 1 billion (~ INR 4,900 crore), making it amongst the largest Solar
EPCs in this very promising market.
In spite of the ongoing pandemic, SWSL has also signed two projects in India with leading global IPPs
adding up to a value of INR 620 crores.
A substantial portion of the Company’s international revenues for the current financial year will
come from Australia, South America and the USA where the construction of solar projects has now
commenced to full capacity. Renewable projects in India, which also add up considerably to the
Company’s revenues, have been allowed to restart now. SWSL is in the process of handing over
projects which are being completed post lockdown and starting other projects. The worst impact of
COVID-19 seems to have passed and the Company is looking forward to increased activity in order
booking and revenues.
Mr. Bikesh Ogra – Director and Global CEO, Sterling and Wilson Solar Limited said, “This is our
largest order in Australia and is a culmination of efforts to break new ground in countries like
Australia, the United States and South America, where SWSL has invested in a strong team that is
completely aligned with the local requirements. Renewable sector plays a vital role in the world's
journey towards clean energy and as a home-grown company we are continuously working together
with several stakeholders in supporting this vision. India continues to be a steady and focused market
for SWSL. Along with our exponential growth in the international market over the past decade, we
continue to remain a dominant player in the domestic market as well.”

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