en.Wedoany.com Reported - Renewable energy EPC company Sterling and Wilson Renewable Energy Limited (SWREL) has formed a 50-50 joint venture with Egypt and MENA region contractor Hassan Allam Construction, securing a solar power project order in West Minya, Minya Governorate, Egypt, valued at approximately $560 million. The project has an installed capacity of 1000 MWac solar power, equipped with a 600 MWh battery energy storage system (BESS), and upon completion, will become one of the largest utility-scale renewable energy projects in Egypt.
The joint venture will be responsible for the full engineering, procurement, and construction of the solar power plant, including photovoltaic facility installation, battery energy storage infrastructure, grid interconnection works, transmission facilities, and all auxiliary and support systems required for project delivery.
Chandra Kishore Thakur, Global CEO of SWREL, stated that the company is proud to support Egypt's decarbonization process through this project and enhance energy security in the MENA region. He noted that this is the third gigawatt-scale order secured by the company within nine months, reflecting the scaling up of photovoltaic projects and continued customer trust in SWREL's ability to deliver large-scale solar and battery energy storage system projects.
This Egyptian project further solidifies SWREL's position in the African renewable energy market. In April this year, SWREL issued a parent company guarantee worth $34 million (approximately INR 3.17 billion) to Nedbank Limited to support the working capital needs of its subsidiary Sterling and Wilson Engineering (Pty) Ltd. in its South African solar business. Previously, the company secured a turnkey engineering, procurement, and construction (EPC) contract for a 240 MWac solar photovoltaic project in South Africa, valued at approximately $147 million (approximately INR 13.13 billion). SWREL stated that it is executing four turnkey solar photovoltaic projects for four well-known developers in South Africa, where the solar market is experiencing strong growth driven by factors such as rising corporate energy security needs, declining costs, and increased grid stability requirements.
The new order and refocus on global operations represent a strategic shift for SWREL, whose previous projects were primarily in more developed markets such as Australia and the Middle East. The company hedges risks through joint ventures or by concentrating resources in countries with multiple projects.
