New Delhi: Sterling and Wilson Renewable Energy Limited (SWREL) said on Monday that its 50-50 joint venture with Egyptian contractor Hassan Allam Construction has received a letter of award (LOA) for a 1,000 megawatt-AC (MWac) solar photovoltaic project integrated with a 600 megawatt-hour (MWh) battery energy storage system (BESS) in Egypt. The company valued the order at approximately USD 560 million.
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The West Minya Solar Power Project, to be built in the Minya Governorate, is the third gigawatt-scale order the company has secured in the past nine months, SWREL said in a statement on Monday.
The joint venture will be responsible for the full engineering, procurement and construction (EPC) of the plant, covering the photovoltaic generation facilities, the battery storage infrastructure, grid interconnection and transmission works, and the associated balance-of-plant and supporting systems. The company said the project would, once complete, become one of Egypt's largest utility-scale renewable energy developments.
SWREL holds a 50 percent interest in the venture. The statement stated the order value for the project at about USD 560 million but did not separately disclose the company's individual share of that amount.
Speaking on the order, Chandra Kishore Thakur, Global CEO of the Sterling and Wilson Renewable Energy Group, said, "We are proud to support Egypt's decarbonisation journey and contribute to strengthening energy security across the wider MENA region through this landmark project. As one of the world's leading solar EPC companies, we bring deep expertise and proven execution capabilities that will help unlock the region's vast renewable energy potential. Our company remains committed to delivering the project within the stipulated timeline while upholding the highest standards of safety, quality, and operational excellence."
The company tied the award to a run of large orders. "This third GW scale order received in a span of nine months reflects the increasing size of PV projects, and continued trust and confidence that customers place in the company's capabilities to deliver large-scale solar projects, including those involving complex technologies such as Battery Energy Storage Systems," it said.
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SWREL describes itself as a global pure-play, end-to-end renewable EPC solutions provider, with EPC offerings across utility-scale solar, floating solar, hybrid and energy storage, and wind. The company put its total portfolio at over 27.3 GWp across commissioned and under-construction projects, alongside an operation and maintenance (O&M) portfolio of 13.5 GWp, covering projects built by third parties as well. It said it operates in 28 countries spanning India, South-east Asia, the Middle East, Africa, Europe, Australia and the Americas.