Sterling and Wilson Solar (SWSL) advanced 3.69% to Rs. 245.70 after the solar EPC solutions provider commissioned its second project in Oman.
The 25 mega-watt (MW) solar project was awarded by Shell. The project, located on a 50-hectare site within Sohar Freezone, will save 25,000 tonnes of carbon emissions annually, thus reducing the dependency of natural gas resources and unlocking large scale solar opportunities for the country.
Last year, SWSL became the first Indian company to commission a solar photovoltaic (PV) project in Oman. The Amin Solar Project, with an installed capacity of 125 MWp, is Oman's first renewables-based Independent Power Project (IPP). The announcement was made during market hours today, 27 January 2021.
SWSL's consolidated net profit slumped 81% to Rs 15.09 crore in Q2 FY21 from Rs 79.41 crore in Q2 FY20. Net sales during the quarter increased by 12% year-on-year (Y-o-Y) to Rs. 1,336.63 crore in Q2 FY21.
SWSL, a Shapoorji Pallonji group company, is a global pure-play, end-to-end solar engineering, procurement and construction (EPC) solutions provider. The company provides EPC services primarily for utility scale solar power projects with a focus on project design and engineering and manages all aspects of project execution from conceptualizing to commissioning. It also provides operations and maintenance (O&M) services, including for projects constructed by third parties.
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