AUD 525 Million Australian Contract For Indian EPC

Sterling & Wilson Lands Its Largest EPC & 20-Year O&M Contract In Australia Worth AUD 525 Million With Unidentified Developer
06:23 AM (Beijing Time) - 24. May 2020
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Even though SWSL does not reveal project details for its AUD 525 million contract in Australia, a project of this scale is believed by industry sources to be Neoen Australia’s 400 MW project in Queensland, says RenewEconomy. (Source: Sterling and Wilson Solar Limited)

Key Takeaways

  • Sterling & Wilson (SWSL) has secured is largest solar project contract in Australia for an undisclosed project
  • It claims the EPC contract of the said project is worth AUD 525 million and 20-year O&M contract is for AUD 85 million
  • Despite the pandemic, the Indian company claims to have also bagged 2 orders in India from leading global IPPs for a total contract value of INR 6.2 billion

Indian solar EPC company Sterling and Wilson Solar Limited (SWSL) will be building a solar project in Australia, which it claims to be its largest order in the country so far. The order comprises the EPC contract for an approximate of AUD 525 million ($345 million) as well as a 20-year O&M contract for close to AUD 85 million ($56 million).

Contract signing involved SWSL’s local Australian branch and subsidiary. With this contract, SWSL has increased its cumulative order book in Australia to some AUD 1 billion ($657 million) in 15 months of its presence in the market, the company said.

While SWSL did not reveal details of its latest Australian contract in terms of the project or the developer, going by the scale of the contract local renewable energy news portal RenewEconomy cites industry sources to suggest it could be Neoen Australia’s 400 MW solar project in Western Downs in Queensland.

The French company recently secured a power purchase agreement (PPA) with state’s clean energy utility CleanCo for 320 MW out of the 400 MW bifacial solar panel project that’s being touted as the largest solar farm in Australia.

In Australia, SWSL started construction on the 200 MW Wellington Solar Farm in New South Wales for Lightsource BP in December 2019 with commissioning scheduled for December 2020. SWSL acquired Australian electrical services company GCo Solar.

SWSL expects a substantial portion of its international revenues in the current financial year to come from Australia, South America and the USA where its projects are being constructed currently at full capacity. “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,” said Bikesh Ogra, SWSL Director and Global CEO.

In India too, SWSL says it signed 2 projects with leading global independent power producers (IPP) ‘despite the ongoing pandemic’ representing a total value of INR 6.2 billion ($82 million). In the domestic market, the company is in the process of handing over projects as construction activity has resumed in the post lockdown era. SWSL is also confident of ‘increased activity in order booking and revenues’ believing ‘worst impact of COVID-19’ to have passed.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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