Sterling and Wilson,part of Shapoorji Pallonji Group acquires 51% stake in STC Group

by Shrutee K/DNS

Sterling and Wilson, part of Shapoorji Pallonji Group and one of India’s leading Solar EPC with over 1,000 MW of solar projects on ground, has acquired 51% stake inSTC Group, an Italian gas based power generation business, to expand its gas based power plant portfolio in key markets. Presently S&W has a presence in the diesel and solar power sector and this acquisition will enable it to establish a strong foothold in the gas power plant segment globally where STC Power has domain knowledge and capability of executing gas based power generation projects including gas based combined cycle power generation projects upto 200 MW capacity. Sterling and Wilson has bought 51% stake in STC Power and 55% stake in Co.Stell, two operating companies of STC Group. STC Power is an EPC contractor of medium sized power plants between 1MW and 200 MW.

Elaborating the strategy behind the acquisition, Mr. Khurshed Daruvala, MD, Sterling and Wilson stated, “STC acquisition will allow S&W to make our first forays into Europe. More importantly, the financial strength and geographical reach of S&W combined with the strong heritage of STC will enable us to provide total turnkey EPC solutions to our customers in Europe, Middle East, Africa and India – it lays the platform for this association to make Sterling and Wilson a significant global player in the gas based power plant business. The other opportunity for the group would be to use the expertise of STC to cater to the huge demand in India for converting waste to energy.”

About STC Group:

STC got into the Gas based power Gen business as an Italian partner of Turbomach SA Switzerland. Within a short time STC gains more than 2/3rd market share in the < 15 MW Gas Turbine Co-Gen business in Italy.STC then diversified its portfolio vertically by getting into large Gas Turbine based cogeneration, combined cycle power plants and also Bio mass based power plants in 2001.In past 30 + years STC has installed about 1800 MW of Gas and biomass based power plants with presence and successful references in Italy, Poland and Israel. The largest size of power plant done by STC is a 140 MW combined cycle power plant.

 About Sterling and Wilson

Sterling and Wilson, which began its operations in 1927 as Wilson Electric Works, is a group company of the 150 year old business conglomerate - Shapoorji Pallonji Group, and is one of India’s leading MEP services provider.

Sterling and Wilson’s range of offerings cover Turnkey MEP projects, Turnkey EPC for Solar power projects , Electrical, HVAC, DG sets from 10 kVA to 3300 kVA, Manufacturing of HT/LT Panels, Plumbing and Fire Fighting, Security and Fire Alarm systems, Mechanical EPC, EBOP Power & Metals and EHV Substations, Distributed Power & Co-generation, Data Centre EPC, Operation & Maintenance and International Operations.

Today Sterling and Wilson, has evolved as India’s leading MEP (Mechanical, Electrical & Public Health Engineering) Services Company. Some of the iconic projects accomplished by Sterling and Wilson are First International Financial Centre (FIFC), Terminal 3- Indira Gandhi International Airport, Lulu International Mall, Buddh International Circuit, Ford India, to name a few.

Sterling and Wilson is India’s largest Solar EPC with over 1000 MW of installation on ground. Sterling and Wilson was awarded the “Energize” Indian Power Sector Award for “Excellence in Solar EPC” for the year 2012-13, as evaluated by Ernst & Young and presented by CNBC-TV 18. Sterling and Wilson is also recognized as India’s top solar EPC player and ranked globally 9th by IHS Solar Research’s report in Q3,2015 for Global PV integrators market share (IHS is a world leader in solar market research & analysis). Sterling and Wilson has also been awarded as “Leading Solar EPC Company” by Renewable Energy India Awards 2015 and Inter-solar India Award 2015 Solar Projects in India for 11 MWp Solar PV Plant in Maharashtra.

Internationally, the company is presently developing a pipeline of projects across India, Middle-east, Central Asia, East Asia and Africa. Visit us at www.sterlingandwilson.com