Sterling & Wilson Renewable Energy Reports Record ₹13,000 Crore Order Book, Strengthens FY27 Growth Outlook
Sterling & Wilson Renewable Energy Limited (SWREL) has announced a record Unexecuted Order Value (UV) of ₹13,000 crore during its Q1 FY27 earnings conference call, providing strong revenue visibility for the coming quarters. The milestone reflects the company’s growing presence in India’s renewable energy sector and its expanding international footprint, supported by large-scale solar EPC and battery energy storage projects.
Record ₹13,000 Crore Order Book Signals Strong Revenue Pipeline
Sterling & Wilson Renewable Energy’s order backlog reached an all-time high of ₹13,000 crore, positioning the company for robust execution over the remainder of FY27.
Management revealed that nearly ₹9,000 crore of this backlog comprises six major turnkey EPC projects secured during H2 FY26 and Q1 FY27, including:
- Three projects in India
- Three international projects
These projects are expected to enter active execution during H2 FY27, significantly contributing to revenue growth.
Egypt Solar Project Worth ₹4,676 Crore Boosts Global Presence
A key highlight of the quarter was the award of the West Mina Solar Power Project in Egypt.
The project was awarded to a 50:50 joint venture between Sterling & Wilson Renewable Energy and Hassan Allam Construction through a Letter of Award received in June.
Project Details
- Project Value: Approximately USD 560 million (around ₹4,676 crore)
- Solar Capacity: 1,000 MW AC Solar PV Plant
- Battery Storage: 600 MWh Battery Energy Storage System (BESS)
This marks the company’s third gigawatt-scale renewable energy project in the past nine months, underscoring its growing expertise in delivering integrated solar and energy storage solutions globally.
Battery Energy Storage Emerges as a Key Growth Driver
Sterling & Wilson Renewable Energy continues to strengthen its position in the rapidly expanding Battery Energy Storage System (BESS) market.
As utilities increasingly adopt hybrid renewable projects with integrated storage, the company expects BESS-based EPC opportunities to become an important driver of future order inflows and profitability.
Strong Bid Pipeline of 27.7 GW
The company also reported a healthy 27.7 GW prospective bid pipeline, providing long-term growth visibility.
Key highlights include:
- Nearly 90% of the pipeline is focused on India
- Strong opportunities in utility-scale solar EPC projects
- Increasing participation in hybrid solar-plus-storage projects
The robust pipeline positions Sterling & Wilson Renewable Energy to capitalize on India’s accelerating renewable energy capacity additions.
Working Capital Expected to Improve in H2 FY27
Management expects customer advances from recently secured turnkey projects to begin flowing during the second half of FY27.
These advances are expected to:
- Improve working capital efficiency
- Support project execution
- Strengthen operating cash flows
- Reduce reliance on external funding
Industry Outlook Remains Positive
While management acknowledged a temporary slowdown in domestic solar EPC order awards due to:
- Volatile commodity prices
- Elevated solar module costs
- Pricing uncertainties
the company remains focused on securing high-margin projects rather than pursuing aggressive volume growth.
Sterling & Wilson Renewable Energy also sees significant long-term opportunities in India’s renewable energy expansion, particularly in large-scale solar parks and battery-integrated projects.