September 23, 2022
BSE Limited | National Stock Exchange of India Limited |
Phiroze Jeejeebhoy Towers | Exchange Plaza |
Dalal Street | Bandra Kurla Complex |
Mumbai - 400 001 | Bandra (East), Mumbai - 400 051 |
Scrip Code: 542760 | Symbol: SWSOLAR |
Sub: Sterling and Wilson Solar Solutions Inc. ("SWSS"), a wholly owned step down subsidiary of the Sterling and Wilson Renewable Energy Limited ("the Company") enters into a Memorandum of Understanding ("MoU"), along with its consortium partner with Government of the Federal Republic of Nigeria
Dear Sir/ Madam
We are pleased to inform that Sterling and Wilson Solar Solutions Inc., incorporated in the United States of America ("SWSS"), a wholly owned step down subsidiary of the Sterling and Wilson Renewable Energy Limited ("the Company") along with its consortium partner Sun Africa LLC (collectively referred to as "the Consortium"), have signed a Memorandum of Understanding ("MoU") with the Government of the Federal Republic of Nigeria to deliver the development, design, construction and commissioning of solar photovoltaic power plants with total installed capacity of 961 MWdc at five different locations ("Projects") in the Federal Republic of Nigeria along with battery energy storage systems with total installed capacity of 455 MWh.
These Projects will ultimately be owned and operated by Niger Delta Power Holding Company ("NDPHC"), a Nigerian Government owned entity. Financing for these Projects are under negotiations between US EXIM, ING and the Government of Nigeria.
The Company wishes to emphasize that the above said MoU has been entered as a first step towards signing of definitive Development and EPC Agreements, which is subject to, inter alia, financing arrangement and approval by the Board of Directors of NDPHC.
Request you to take the same on records.
Yours faithfully
For Sterling and Wilson Renewable Energy Limited
VENKATA JAGANNADHA RAO CHUNDURU
Digitally signed by VENKATA JAGANNADHA RAO CHUNDURU
Date: 2022.09.23 08:05:00 +05'30'
Jagannadha Rao Ch. V.
Company Secretary
Sterling and Wilson Renewable Energy Limited
(Formerly known as Sterling and Wilson Solar Limited)
Regd. Office: Universal Majestic, 9th Floor, P. L. Lokhande Marg, Chembur (W), Mumbai - 400043
Phone: (91-22) 25485300 | Fax: (91-22) 25485331 | CIN: L74999MH2017PLC292281
Email: info@sterlingwilson.com | Website: www.sterlingandwilsonre.com
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Sterling and Wilson Renewable Energy Ltd. published this content on 23 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2022 03:09:08 UTC.