Sterling and Wilson Announces Its Foray into Hybrid Power Plants and Energy Storage Solutions; Aims 1GWh of Installations Globally

• Hybrid and Energy Storage Business arm to offer hybrid power plant and
  energy storage solutions globally, focussing on front-of-meter and
  behind-the-meter public and private sector opportunities, with special
  focus on lighting up remote islands and reducing carbon footprint of
  critical power installations running on black power.
• Mr. Deepak Thakur is appointed as the CEO and Mr. Vishwanathan Iyer
  would be responsible for the Global Business Development, Strategy and
  Marketing

MUMBAI–(BUSINESS WIRE)–#EESEurope–Sterling and Wilson, an Indian multinational engaged in engineering,
construction, manufacturing and energy services with over $1Bn in
revenue has announced its foray into Hybrid Power Plants and Energy
Storage solutions as part of its commitment to consistently expand its
range of offerings to reflect the future of energy. The Company,
with a cumulative expertise of 8GW across its energy verticals
encompassing Co-generation CHP and Gas based power, Solar Energy and
Diesel Powered Generators, is poised to lead the disruptive revolution
of energy storage besides fostering adoption of clean energies by
critical power installations through hybrid power plants.

The newly introduced Hybrid and Energy Storage Business is already in
advanced discussions for its first projects in Africa and Europe and
is keenly exploring EPC and Co-Development opportunities across
continents. As part of its global outlook and expansion plans, the
business is actively tapping talent worldwide to develop competency
centres in target markets. In its inaugural showcase, the team is
participating in EES Europe from 20th to 22nd
June 2018 in Munich, Germany.

Sterling and Wilson’s strong intent to invest in the hybrid and energy
storage space is backed by a visible global trend of ever increasing
need for reliable power and a strong endorsement by developed economies
to reduce carbon emission, within a $6 trillion global energy industry
that is ripe for disruption. To lead the charge amidst such trends, the
company has appointed Mr. Deepak Thakur at the helm of its Hybrid &
Energy Storage Business as the CEO. With an experience of 26 years
and a proven track record of incubating new businesses from strategy to
building strong teams, Deepak has successfully handled various
responsibilities encompassing sales, marketing, corporate strategy,
business planning and strategic alliances across a wide spectrum of
industries. Further by tapping into its internal talent pool, the
company has also appointed Mr. Vishwanathan Iyer to lead the global
business development, marketing and strategic activities for the new
unit. In his previous assignment, Mr. Vishwanathan was spearheading
Solar Business Development in India.

Commenting on the new business foray, Mr. Deepak Thakur, CEO – Hybrid
and Energy Storage, Sterling & Wilson, said: “The global
hybrid and energy storage market is estimated to be around USD 40
billion by 2025. As one of the leading turnkey solution providers in the
world, with project management, engineering and delivery expertise of
over 8GW of diversified energy offerings across geographies, we are
confident of providing our customers value for money through customised
hybrid power plants and energy storage facilities."

Given its global energy expertise, Sterling and Wilson has an extensive
focus on where and how hybrid and energy storage solutions can be
applied across the energy sector from centralized large fossil and
renewable power plants, to data centres, C&I segments and remote
settings such as Islands. The Company’s Hybrid & Energy Storage business
unit is offering a range of clientele – from utility-scale and C&I
project developers, independent power producers to public utilities and
IOUs – a host of turnkey services such as project development, design
and engineering including sizing of storage solutions and hybrids,
supply chain management, construction, commissioning, and operations &
maintenance .

About Sterling and Wilson

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 will 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, Sterling and Wilson
group crossed a turnover of INR 6,000 crore and is likely to exceed INR
10,000 crore by 2020. From being a predominantly India focused company
in 2010, Sterling and Wilson 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 focused on doing MEP projects in India, Sterling and Wilson over
the past 5 years has set up global operations in manufacture of DG sets,
Gas based power plants, Waste to Energy, Turnkey data centres,
Transmission and Distribution and Solar EPC. With its recent foray into
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.

Contacts

Media Contact
for Sterling and
Wilson
Ms. Kritika Bharadwaj
Mobile: 09833394436
[email protected]