15 July 2017 2017 12:01 PM GMT

Indian Firm Wins 1.8GW Sweihan Order; The Largest Solar PV Project In The World

Indian engineering company Sterling and Wilson, one of the key forces in the global solar-PV sector, has bagged the contract for the world’s largest single location solar PV project. The order is for turnkey EPC (engineering, procurement and construction) as well as O&M (operation & maintenance) for the PV plant in Sweihan, Abu Dhabi.

Project details were not provided on the conditions of this EPC and O&M contract. The project is jointly developed by Japanese investment firm Marubeni, Chinese solar company Jinko Solar, and Abu Dhabi Water and Electricity Authority (ADWEA). It will deliver a capacity of 1177 MWp, easily surpassing the current largest 850 MWp single location plant in China.

With construction already underway, the prodigious plant, which is spread over a desert area of 7.8 sq. km is scheduled to be fully integrated with the grid in a record timeline of just 23 months. In March this year, Marubeni and Jinko had signed a 25-year power purchase agreement (PPA) with ADWEA on a tariff of $0.0242/kWh, making Sweihan not only the biggest solar power plant worldwide but also the one with the lowest electricity price so far.

The plant is jointly developed by a  consortium comprising Marubeni, a Japanese integrated trading and investment giant, along with Jinko, a global leader in the solar industry, and Abu Dhabi Water and Electricity Authority (ADWEA). This consortium has successfully bid a tariff of USD 2.42 cents per kilowatt hour, marking the lowest cost ever for solar power. This is a positive statement on the promising future of clean energy, reducing the dominance of fossil-fuel-backed power plants.

The prestigious project will play a major role in the Emirates of Abu Dhabi achieving its aim of sustainability and energy diversification, through the use of clean energy/low carbon growth in accordance with the world’s vision of long-term environmental stewardship. The plant, once commissioned, would save around 7 million tonnes of carbon emissions every year, a number that would be a national landmark. To put it in perspective, 1177 MWp can power around 195,000 homes, thus contributing to the welfare of the current as well as the future generations of the people of the UAE.

“We are fully geared and very excited to be a part of this important milestone in the global solar market,” said Bikesh Ogra, President – Renewable Energy, Sterling and Wilson. Owing to the favourable government policies, India is now the 3rd largest market for solar in the world, allowing Sterling and Wilson the opportunity to become the leading solar EPC in the country. The company has created a global brand and has now grown to be the world’s largest solar EPC player outside USA and China.

Emphasising on the need to be competitive, he further added, “The strongest contributor to this tariff is the capital expense driven by lower equipment cost and a highly efficient system design. Our unique design offerings and state-of-the-art robotics optimises the yield and performance of the plant.” Sterling and Wilson also has to its credit >1400 MW of best performing solar power plants in various geographies with a powerhouse of more than 3000 qualified engineers, project managers and designers.

As the acceleration of growth in the energy sector has increased worldwide, the company has ventured into the wind and energy storage sectors, covering the entire canvas in the renewable sector. Backed by its robust resources in project management, project implementation and project engineering, with projects completed in the Philippines and South Africa, and a number of projects in Zambia, Niger and Morocco under construction, the company is fully geared to deliver more than 3000 MW every year.

Sterling and Wilson is an excellent example of how the Shapoorji Pallonji family has nurtured long-term associations with its business partners. The Mistry and Daruvala families have been partners in Sterling and Wilson for 3 generations. This partnership can only grow stronger, as the 4th generations of both families have recently joined the business.

Over the past 5 years, Sterling and Wilson has shown exceptional growth; with operations all over the globe, as well as an expansion in its range of services, the company’s turnover has shown an extremely positive growth. From a turnover of INR 1,760 crore in 2012, the group crossed a turnover of INR 6,000 crore last year as is likely to exceed INR 10,000 crore in the year ended March 2018. From being a predominantly India-focused company in 2010, it now operates across the Middle East, Africa, Australia and Europe. In the current year, the company is expanding to the USA and South America.

From being a company that was mainly focussed on doing MEP projects in India, it has, over the past 5 years has set up global operations in the manufacture of DG sets, Gas based power plants, Waste to Energy, Turnkey data centres, Transmission and Distribution and Solar EPC. With its recent entry into wind and energy storage, Sterling and Wilson is perfectly poised to play a pivotal role in the global trend of moving away from thermal plants to a future of renewable energy with storage.

December 27th 2017
Rooftop PV Presents a $23 Billion Opportunity in India Over The Next 5 Years

India is accelerating development of renewable energy projects to provide cheap, reliable and clean power to its 1.3 billion people. The country’s per-capita on-grid electricity consumption has increased significantly over the four years; due to increased industrial activity, higher uptake of electrical appliances by residential electricity users and the addition of new consumers to the grid. During this period, the cost of electricity from rooftop PV has halved, due to fierce competition in the market and a drop in equipment prices. In contrast, average retail electricity rates have increased by 22% in the same period. This has made rooftop PV cheaper than commercial and industrial grid tariffs in all major states in India.

January 19th 2018
Chinese Solar Surge Fuels Overall Global Growth In Clean Energy Investment

World clean energy investment totalled $333.5 billion last year, up 3% from 2016 and the second highest annual figure ever, taking cumulative investment since 2010 to $2.5 trillion. An extraordinary boom in photovoltaic installations made 2017 a record year for China’s investment in clean energy. This outpaced changes elsewhere, including jumps in investment in Australia and Mexico, and declines in Japan, the U.K. and Germany. The figures up 3% from a revised $324.6 billion in 2016, and only 7% short of the record figure of $360.3 billion, in 2015.

January 8th 2018
Vestas Sets 10.6 GW Record In 2017 After Year-End Surge; Ups Cashflow Guidance

Vestas has received a firm and unconditional order for 190 MW of 4 MW platform turbines in the U.S. taking the global order intake for the company in 2017 to 10.6 GW, surpassing 2016’s record order intake of 10.5 GW. The surge of orders at the end of the year has resulted in the company revising its guidance for free cashflow upwards. It now expects the free cashflow for 2017 to be €1.15bn-€1.25bn, as compared with the previous guidance of €450m-€900m. Markets have reacted favourably with the company share price experiencing an increase of 5%. 


 

   

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