Sterling and Wilson Renewable Energy Limited (SWRE), a prominent player in the renewable energy sector, announced on December 14th, 2023, the successful completion of a fundraise of Rs. 1,500 crore through the Qualified Institutions Placement (QIP) route. This significant financial milestone was approved by the Securities Issuance Committee of the Board of Directors, which sanctioned the issuance and allotment of 4,32,27,665 equity shares of face value Re. 1/- each at an issue price of Rs. 347/- per equity share.

The Rs. 1,500 crore QIP garnered strong interest from both domestic mutual funds and prestigious global Foreign Institutional Investors (FIIs), underlining the robust confidence of the investment community in SWRE’s potential and vision. Amit Jain, Global CEO of Sterling and Wilson Renewable Energy, expressed gratitude towards investors and stakeholders for their trust and support, particularly during challenging times for the organization.

A substantial portion of the proceeds from the QIP will be utilized to reduce debt and provide capital to pursue rapidly growing solar EPC markets in India and abroad. As of September 30th, 2023, SWRE boasts a healthy unexecuted order book of INR 6,835 crore, bolstered by strong domestic EPC order inflows and a robust bid pipeline internationally. The company is strategically positioned to accelerate its growth in the renewable energy market.

Through this QIP, SWRE aims to strategically harness the immense potential of the global renewable energy market. The company, committed to its vision of accelerating a renewable future, focuses on delivering high-quality renewable solutions that drive sustainability and make a positive impact globally. Jain anticipates spearheading this journey with continuous growth, innovation, and creating shareholder value.

Sterling and Wilson Renewable Energy Limited is a global, pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. With a total portfolio exceeding 15 GWp, including projects commissioned and under various stages of construction, SWRE offers services for utility-scale solar, floating solar, and hybrid & energy storage solutions. Additionally, the company manages an O&M portfolio of 6.4 GWp solar power projects. Present in 29 countries, SWRE operates across continents, including India, South-East Asia, the Middle East, Africa, Europe, Australia, and the Americas, playing a vital role in the global renewable energy landscape.

  India, renewable energy, Sterling and Wilson Renewable Energy