Sterling & Wilson is an end-to-end solar EPC solution provider, and provides services primarily for utility-scale solar projects, besides providing O&M services, including for projects constructed by third parties. Sterling & Wilson operated in India, Southeast Asia, EMEA, USA, and Australia and has also recently expanded its renewable energy offerings to include hybrid energy power plants, energy storage solutions and waste-to-energy.
Edelweiss Financial Services has successfully closed a transaction of INR 28,500mn (c.US$ 382mn) as the Exclusive Buy Side Advisor to Reliance New Energy Limited for acquisition of 40% stake in Sterling & Wilson. The transaction involved a preferential issue of 15.46% voting rights on a private placement basis to the Acquirer.
Renewable Energy Limited also acquired shares of promoters and public shareholders of Sterling & Wilson through an open offer process to consequently hold 40% equity capital.
Edelweiss Financial Services
Advised in the sale of
Sterling & Wilson (40%)
to