AUGUST 20238STERLING & WILSON RENEWABLE ENERGY WINS ORDERS WORTH 826 CROREONGC TIES UP WITH BPCL TO SELL CRUDE OIL FROM MUMBAI REGIONLeading domestic renewable EPC Sterling and Wilson Renewable Energy Limited revealed through an exchange filing that it has received orders totaling Rs. 826 crore in the first four months of FY 2023­24.The projects included in the orders, which total about 1 GWp, are located in Rajasthan, Uttar Pradesh, and Gujarat. All projects' scopes of work include design, construction, and commissioning. The projects will help the neighbourhood by generating hundreds of construction employment.Sterling and Wilson Renewable Energy Group, the renewable sector is essential to India's transition to sustainable energy. India remains a crucial market for SWRE, and we have been collaborating with many stakeholders to increase the region's renewable energy capacity. All orders placed over these four months came from recurrent partners, which is evidence of our industry knowledge. We greatly respect the relationships we have with our partners, and we are appreciative of their ongoing belief in us."This success is a result of the commitment and diligence of our staff. We have dominated the domestic market for the past ten years and are well-positioned to produce high-quality renewable solutions that promote sustainability and have a good influence on the planet. We look forward to leading the way with ongoing expansion and innovation, he continued. Asignificant milestone is the long-term agreement between the Oil & Natural Gas Corporation Ltd (ONGC) and Bharat Petroleum Corporation Ltd (BPCL) for the sale of crude oil produced in the Mumbai region. Sanjay Kumar, executive director of ONGC, and Manoj Heda, executive director of BPCL, signed the agreement in the presence of C. Mathavan and other senior authorities.The agreement was reached when the Centre agreed to abandon its prior system of allocating quotas in favour of free marketing and pricing for domestic crude oil.ONGC launched its first-ever successful e-auction of crude oil, which it sold to the highest bidder. The Mumbai High Fields generate about 13­14 million tonnes of crude oil yearly.With the advantage of being connected by an undersea pipeline that passes over the Arabian Sea, the BPCL Mumbai Refinery in Mahul, Chembur East, has a longstanding relationship with ONGC and has been processing their crude oil since 1976. This refinery provides ONGC with flawless logistical operations. TOP STORIES
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