India-based Sterling and Wilson Renewable Energy, a prominent engineering, procurement, and construction (EPC) firm, has secured a significant project in the Indian state of Gujarat. The company has been awarded the EPC contract for the 300MW Khavda RE Power Park, a project that also includes the operation and maintenance (O&M) responsibilities for a duration of three years. This contract, facilitated by the Indian government-owned NTPC Renewable Energy, carries a price tag of INR 15.35 billion (approximately US$185 million).
This achievement marks the third project that Sterling and Wilson has been entrusted with by NTPC in just over a year, all conveniently located in close proximity to each other. Earlier this year, the company inked a 1.2GW tracker supply agreement with Nextracker for another solar PV project for NTPC, also situated in Gujarat.
Gujarat, the second-largest state in India in terms of its pipeline of solar PV projects, had an impressive 9.6GW of projects in the pipeline by the end of 2022, with 5GW of commissioned solar capacity. Notably, Gujarat led the nation in capacity additions during the second quarter of 2023, a period characterized by a 58% drop in solar PV installations compared to the same period the previous year.
With this latest project, Sterling and Wilson's portfolio of projects under execution for NTPC has surged to nearly 2.5GW, solidifying their position as a key player in the renewable energy sector. Their overall portfolio of EPC solar and storage projects, whether commissioned or in various stages of construction, now stands at an impressive 13.6GW.
Amit Jain, the global CEO at Sterling and Wilson Renewable Energy Group, expressed his delight, stating, “We are delighted to win and partner again with NTPC Renewable Energy. The continued partnership further demonstrates the trust and leadership of SWRE's project management capabilities and global expertise.”
In related news, PFC Consulting, a subsidiary of the Indian state-owned Power Finance Corporation, recently issued a request for selection (RfS) seeking 1.25GW of interstate transmission system (ISTS)-connected solar PV projects across India. These projects, once awarded, will enter into 25-year power purchase agreements with NTPC, further boosting India's renewable energy landscape.
