MUMBAI, India-Tuesday, June 20th 2017 [ ME NewsWire ]
(BUSINESS WIRE)-- Sterling and Wilson, one of the dominant global forces in the solar-PV space, has bagged Turnkey Engineering Procurement and Construction along with Operation & Maintenance contract for the world’s largest single location solar PV plant in Sweihan, Emirates of Abu Dhabi. The project will deliver a capacity of 1177 MWp, easily surpassing the current largest 850 MWp single location plant in China.
With construction already underway, the prodigious plant, which is spread over a desert area of 7.8 sq. km, is scheduled to be fully integrated with the grid in a record timeline of just 23 months. To top it all, the project was awarded at the lowest ever recorded bid in the history of PV solar.
The plant is jointly developed by Marubeni, a Japanese integrated trading and investment giant, along with Jinko, a global leader in the solar industry, and Abu Dhabi Water and Electricity Authority (ADWEA). The consortium has successfully bid a tariff of USD 2.42 cents per kilowatt hour, marking the lowest cost ever for solar power. This is a positive demonstration of the promising future of clean energy, reducing the dominance of fossil-fuel-backed power plants.
The prestigious project will play a major role in the Emirates of Abu Dhabi achieving its aim of sustainability and energy diversification, through the use of clean energy/low carbon growth in accordance with the world’s vision of long-term environmental stewardship.
The plant, once commissioned, would save around 7 million tonnes of carbon emissions every year, a number that would be a national landmark. To put it in perspective, 1177 MWp can power around 195,000 homes, thus contributing to the welfare of the current as well as the future generations of the people of the UAE.
“We are fully geared and very excited to be a part of this important milestone in the global solar market,” said Bikesh Ogra, President – Renewable Energy, Sterling and Wilson.
Owing to the favorable government policies, India is now the 3rd largest market for solar in the world, allowing Sterling and Wilson the opportunity to become the leading solar EPC in the country. The company has created a global brand and has now grown to be the world’s largest solar EPC player outside USA and China.
Laying emphasis on the need to be competitive, he further added, “The strongest contributor to this tariff is the capital expense driven by lower equipment cost and a highly efficient system design. Our unique design offerings and state-of-the-art robotics optimizes the yield and performance of the plant.”
Sterling and Wilson also has to its credit >1400 MW of best performing solar power plants in various geographies with a powerhouse of more than 3000 qualified engineers, project managers and designers.
As the acceleration of growth in the energy sector has increased worldwide, Sterling and Wilson has ventured into the wind and energy storage sectors, covering the entire canvas in the renewable sector. Backed by its robust resources in project management, project implementation and project engineering, with projects completed in the Philippines and South Africa, and a number of projects in Zambia, Niger and Morocco under construction, the company is fully geared to deliver more than 3000 MW every year.
About Sterling and Wilson
Sterling and Wilson is an excellent example of how the Shapoorji Pallonji family has nurtured long term associations with its business partners. The Mistry and Daruvala families have been partners in Sterling and Wilson for 3 generations. This partnership will only grow stronger, as the 4th generations of both families have recently joined the business.
Over the past 5 years, Sterling and Wilson has shown exceptional growth; with operations all over the globe, as well as an expansion in its range of services, the company's turnover has shown an extremely positive growth. From a turnover of INR 1,760 crore in 2012, Sterling and Wilson group crossed a turnover of INR 6,000 crore last year as is likely to exceed INR 10,000 crore in the year ended March 2018. From being a predominantly India focussed company in 2010, Sterling and Wilson now operates across the Middle East, Africa, Australia and Europe. In the current year, the company is expanding to the USA and South America. From being a company that was mainly focussed on doing MEP projects in India, Sterling and Wilson over the past 5 years has set up global operations in manufacture of DG sets, Gas based power plants, Waste to Energy, Turnkey data centers, Transmission and Distribution and Solar EPC. With its recent forays into wind and energy storage, Sterling and Wilson is perfectly poised to play a pivotal role in the global trend of moving away from thermal plants to a future of renewable energy with storage.
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