SWREL Wins ₹3,550 Crore Orders Led By Coal India Solar Project

Sterling and Wilson Renewable Energy Ltd (SWREL) on Monday announced fresh order wins worth ₹3,550 crore, strengthening its execution pipeline and pushing FY26 EPC inflows beyond ₹10,062 crore.

At the centre of the announcement is a large utility-scale solar project. The company has been declared the lowest bidder for an 875 MW (AC) grid-connected solar EPC package in Bikaner, Rajasthan, awarded by Coal India Ltd. The total contract value, including operations, maintenance and taxes, stands at ₹3,490 crore.

Alongside this, SWREL secured a 50 MW (AC) solar project in Maharashtra from a private independent power producer, adding diversification to its domestic order book.

SWREL’s share price rose 15.28% to ₹223.60 at 12:48 PM on 20 April on the National Stock Exchange (NSE).

What Do These Orders Signal For Growth Visibility?

The scale and mix of these wins matter. First, the Bikaner win marks SWREL’s first major engagement with Coal India, opening a potential pipeline in the public sector’s renewable expansion plans. Second, the Maharashtra order reinforces its presence in the private sector.

This combination helps balance execution risk while improving revenue visibility.

Chandra Kishore Thakur, Global CEO of SWREL, said the company is closing FY26 on a strong note, with order inflows exceeding its initial ₹10,000 crore target.

Company Snapshot

SWREL operates as a global pure-play renewable EPC solutions provider, covering utility-scale solar, floating solar, hybrid systems, energy storage and wind projects.

• Total portfolio: Over 26.1 GWp (commissioned and under construction)

• O&M portfolio: 10.1 GWp solar assets

• Presence: 28 countries across India, Southeast Asia, West Asia, Africa, Europe, Australia and the Americas

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What Comes Next?

The latest order strengthens SWREL’s pipeline at a time when India’s renewable capacity addition remains steady. The key question now shifts from order inflow to execution.

Can the company convert this growing order book into consistent revenue, stable margins and disciplined cash flows in FY27?

Source:

The Hindu Business Line