Highlights
- SWREL joint venture secured a USD 560 million solar project in Egypt.
- The project includes 1,000 MWac solar capacity and a 600 MWh battery storage system.
- The joint venture will execute engineering, procurement and construction activities.
Sterling and Wilson Renewable Energy Ltd. (NSE:SWSOLAR) announced that its 50:50 joint venture with Hassan Allam Construction has received a Letter of Award (LOA) for the West Minya Solar Power Project in Egypt. According to the company, the order is valued at approximately USD 560 million and was received in the normal course of business. The announcement was made through a press release submitted to the National Stock Exchange (NSE) and BSE on June 29, 2026.
Source: Analysis by Kalkine
Project Includes Solar Plant and Battery Storage
The project involves the development of a 1,000 MWac Solar Photovoltaic (PV) power plant integrated with a 600 MWh Battery Energy Storage System (BESS) in the Minya Governorate of Egypt. According to the company, once completed, the project will become one of Egypt's largest utility-scale renewable energy developments.
The joint venture will be responsible for the complete engineering, procurement and construction (EPC) of the project. Its scope includes the installation of photovoltaic generation facilities, battery energy storage infrastructure, grid interconnection works, transmission facilities, balance-of-plant works and other supporting systems required for project execution.
Third GW-Scale Order in Nine Months
The company stated that this is the third gigawatt-scale order secured during the last nine months. The press release noted that the order reflects the increasing scale of solar photovoltaic projects and includes battery energy storage technology as part of the overall project.
Management Commentary
Speaking on the order win, Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy Group, said:
"We are proud to support Egypt’s decarbonisation journey and contribute to strengthening energy security across the wider MENA region through this landmark project. As one of the world’s leading solar EPC companies, we bring deep expertise and proven execution capabilities that will help unlock the region’s vast renewable energy potential. Our company remains committed to delivering the project within the stipulated timeline while upholding the highest standards of safety, quality, and operational excellence."
He further added:
"This third GW scale order received in a span of 9 months reflects the increasing size of PV projects, and continued trust and confidence that customers place in the company’s capabilities to deliver large-scale solar projects, including those involving complex technologies such as Battery Energy Storage Systems."
Company Presence
Sterling and Wilson Renewable Energy provides engineering, procurement and construction services across utility-scale solar, floating solar, hybrid, energy storage and wind projects. According to the company, it has a portfolio exceeding 27.3 GWp, including commissioned projects and those under construction. The company also manages operation and maintenance services for 13.5 GWp of solar projects and operates across 28 countries.
Key Risks
- International project execution may face regulatory and permitting challenges.
- Supply chain disruptions could affect equipment delivery schedules.
- Currency fluctuations may influence overseas project economics.
- Large-scale infrastructure projects may face construction timeline risks.
Summary
Sterling and Wilson Renewable Energy announced that its joint venture with Hassan Allam Construction secured a USD 560 million Letter of Award for the West Minya Solar Power Project in Egypt. The project includes a 1,000 MWac solar PV plant integrated with a 600 MWh Battery Energy Storage System. The joint venture will execute the complete EPC scope of the project.
FAQs
Q: What project has SWREL's joint venture secured in Egypt?
A: The joint venture received a USD 560 million order for a 1,000 MWac solar PV project with a 600 MWh battery storage system.
Q: Who is SWREL's partner for the Egypt solar project?
A: The project will be executed through a 50:50 joint venture between Sterling and Wilson Renewable Energy and Hassan Allam Construction.
Q: What work will the joint venture undertake?
A: The joint venture will execute engineering, procurement and construction, including solar facilities, battery storage, transmission and grid interconnection infrastructure.