SWREL operates in the solar, floating solar, and hybrid and energy storage solutions sectors. Credit: Simona.t/Shutterstock.com.

Sterling and Wilson Renewable Energy Limited (SWREL) has secured its second South African engineering, procurement, and construction (EPC) project this fiscal year, with a turnkey contract valued at around Rs13.13bn ($147m) for a 240MW AC solar photovoltaic (PV) project.

With this award, SWREL currently has four projects in South Africa across four different developers.

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The company’s total EPC order inflows this fiscal year have surpassed Rs50.88bn.

In October, the company announced a letter of intent for a 115MWp project in the country worth $120m.

SWREL stated that the two projects awarded last fiscal year have progressed operationally, establishing its presence in the market.

The South African solar PV market is expanding rapidly, driven by increased corporate demand for energy security, declining costs, and improved grid stability.

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The company stated that it is leveraging these trends by scaling its project portfolio and deepening relationships with local developers.

SWREL global CEO Chandra Kishore Thakur said: “We are very excited to announce our second international order from South Africa this fiscal [year] within a span of two months.

“South Africa remains a key international market for us where we are currently implementing four PV projects with four reputed customers reflecting our strong value proposition and positioning in this market.

“With this order win, SWREL has now achieved ~Rs50.8bn of order inflows this fiscal, and ordering momentum continues to remain robust.”

SWREL is an end-to-end renewable EPC provider, offering services for utility-scale solar, floating solar, and hybrid and energy storage solutions.

The company’s total portfolio exceeds 22.8GWp, spanning commissioned projects and those under various stages of construction.

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