Sterling & Wilson Renewable Energy Limited (SWREL) has made progress in collecting indemnity payments stemming from agreements dating back to 2021. The company recently received a significant portion of the total claim and is awaiting the remainder from one of its promoter selling shareholders.

Key Developments

• Total Indemnity Claim: Rs. 174.54 crore
• Payment Received: Rs. 31.42 crore from Mr. Khurshed Yazdi Daruvala
• Pending Payment: Rs. 143.12 crore from Shapoorji Pallonji and Company Private Limited (SPCPL)

Payment Details

The indemnity claim originates from agreements made in 2021 involving SWREL, the promoter selling shareholders, and Reliance New Energy Limited. These agreements include a Share Subscription Agreement dated October 10, 2021, and an Indemnity Agreement dated December 29, 2021.

SPCPL's Commitment

SPCPL has formally communicated its intention to fulfill its obligation. In a letter dated November 28, 2025, the company stated:

"We are working towards an expeditious payment of SPCPL Indemnity Claim Amount to SWREL and confirm that the same will be paid in full within 60 (sixty) days and no later than 31 January 2026."

SPCPL also reaffirmed its commitment to fully discharge all obligations under the agreements executed with SWREL.

Company's Disclosure

Sterling & Wilson Renewable Energy disclosed this information in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Chief Financial Officer, Ajit Pratap Singh, signed off on the regulatory filing.

This development demonstrates Sterling & Wilson Renewable Energy's active pursuit of agreed-upon indemnities and the responsiveness of its promoter selling shareholders. Investors and stakeholders will likely monitor the situation closely, particularly the pending payment from SPCPL, which constitutes a significant portion of the total indemnity claim.

Sterling & Wilson Renewable Energy Limited (SWREL), a leading player in the renewable energy sector, has announced a significant new order from Adani Green Energy Limited. The company has secured a Balance of System package order worth INR 1,381 crore for three solar power projects at Khavda Renewable Energy Park, Gujarat.

Order Details

Strategic Partnership

In addition to this order, SWREL has signed a 5-year Strategic Partnership Framework Agreement with Adani Green Energy. This partnership is expected to strengthen the company's position in the renewable energy sector and potentially lead to more collaborations in the future.

Financial Impact

The new order significantly contributes to SWREL's order book for the current fiscal year. Here's a breakdown of the company's recent performance:

Market Outlook

The renewable energy market in India, particularly solar power, continues to show strong growth potential. Factors driving this growth include:

1. Government initiatives promoting clean energy
2. Increasing corporate demand for sustainable power solutions
3. Declining costs of solar technology
4. Need for improved grid stability and energy security

SWREL's success in securing large orders from major players like Adani Green Energy positions it well to capitalize on these trends and further expand its operations in the domestic market.

Conclusion

Sterling and Wilson Renewable Energy's latest order from Adani Green Energy represents a significant milestone in its growth strategy. The substantial order value of INR 1,381.00 crore, combined with the strategic partnership agreement, strengthens SWREL's position in the Indian renewable energy market. As the company continues to secure high-value contracts and foster strategic partnerships, it reinforces its status as a key player in the country's transition to clean energy.