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'Sterling & Wilson RE to look for additional investments'
Mint Mumbai
|June 24, 2023
The board of Sterling and Wilson Renewable Energy Ltd is considering getting more investments into the company, its global chief executive officer Amit Jain said.
NEW DELHI: The talks for raising further capital come after Reliance New Energy Ltd, a unit of Reliance Industries Ltd (RIL), completed its acquisition of a 40% stake in the company in February last year. In an interview, Jain said the company is considering expanding its operations and diversifying into newer areas, including battery storage and wind balance of system (BoS). Edited excerpts:
What is your order book status? What are your expansion plans for the India business?
We have an order book in excess of 4GW right now in India. As of 31 March, in value terms, it was ₹4,500 crore. So, typically, it has been 70:30, with overseas having the major share of our business. But now that proportion is going to reverse. By FY25, we expected it to be 65:35, with most of our business in India.
Reliance New Energy picked up a 10% additional stake last year. Could we see further investments coming in?
This story is from the June 24, 2023 edition of Mint Mumbai.
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