Wednesday, 3 July 2019

Shapoorji Pallonji's renewable energy arm Sterling and Wilson Solar Ltd ranked World's Largest Solar EPC Service Provider: IHS Markit.



Sterling and Wilson Solar Limited, a Shapoorji Pallonji group company, has been ranked as the world's largest Solar EPC service provider by IHS Markit in its recently announced Solar EPC and O&M Provider Tracker Q1 2019 report. The ranking is basis the annual installations of utility-scale PV systems of more than five MWp in the year 2018. As the largest global Solar EPC solutions provider, Sterling and Wilson Solar had a global market share of 4.6% in the year 2018 - a number more than double that of the 2nd largest company globally - according to IHS Markit. The company was also ranked as the largest Solar EPC solutions provider in India with a market share of 16.6%, 3 times the size of its closest competitor.

Declining costs, advancing technology trends and favorable regulatory environments across the world are some of the factors driving the growth of solar energy globally. Sterling and Wilson Solar has built more than 6 GWp of solar plants across the globe and the recognition as the world's largest solar EPC provider is a significant milestone in its trajectory.

With a strength of 1179 employees across the world including 138 in design and engineering, Sterling and Wilson Solar has been executing projects globally. Today, it has over 6062.83 MWp of solar EPC projects as part of its portfolio in different stages of implementation (commissioned and contracted). This impressive global portfolio also includes a 1,177 MWp single location Solar PV plant in Abu Dhabi - one of the world' s largest such Solar PV plants.

Sterling and Wilson Solar is present in 26 countries today, with operations in India, South East Asia, the Middle East, Africa, Europe, the Americas, and Australia. The company has been strategically focusing on markets that have conducive solar power policies and investing resources in geographies that have long-term solar opportunities in utility-scale solar power projects and rooftop solar projects.

In the year 2018, according to IHS Markit, the company was also the largest solar EPC solutions provider in Africa and the Middle East with a market share of 36.6% and 40.4% respectively. Today, Sterling and Wilson Solar is expanding its global presence through strategic acquisitions in its target markets. The company recently acquired a 76% equity interest in GCO Electricals Pty Limited, an electrical contracting company based in Australia with expertise in the execution of solar power projects in the region. 

The company provides EPC services primarily for utility-scale solar power projects with a focus on project design and engineering and manage all aspects of project execution from conceptualizing to commissioning. As the global solar market is likely to grow substantially in the years to come, Sterling and Wilson Solar has positioned itself well to be at the forefront of this tremendous opportunity.

Source: Press Release/PTI.

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