By: Scanx

Sterling & Wilson Renewable Energy Limited (SWREL) has secured a significant 240 MW AC turnkey solar project in South Africa, valued at USD 147 million (approximately INR 1,313 crore). This marks the company's second international order from South Africa in the current fiscal year, reinforcing its strategic expansion in the region.

The new contract increases SWREL's total Engineering, Procurement, and Construction (EPC) order inflows for the fiscal year to INR 5,088 crore. It also expands the company's portfolio in South Africa to four solar projects, each with a different developer, demonstrating its ability to attract diverse clients and solidify its international market presence.

This growth occurs against a backdrop of contrasting financial performance for the company's stock, which has declined 53.93% over the past year. Interestingly, this period has also seen a 35.30% increase in retail investor ownership of SWREL, a trend observed in several other underperforming stocks despite broader market gains.