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Sterling & Wilson Solar announced that Bikesh Ogra has expressed his desire to assign day to day business operations to next level of leadership teams. Amit Jain will take over the global operations of the Solar business from Bikesh Ogra with immediate effect. Amit Jain has been working in the capacity of Country Head - US & Australia so far. Now he has been assigned with higher responsibilities and will take the position of Global CEO - Solar Business and will report to the Board of Directors of the Company. He will continue to operate from the Dubai office and will be on the rolls of Sterling and Wilson International Solar FZCO (a wholly owned subsidiary of the Company). ....
Corporate funding in solar sector up 21% at $8.1 b in Q1 2021: Mercom Capital April 19, 2021 This the result of higher debt and public market financing activity in the quarter Total corporate funding, including venture capital funding, public market, and debt financing, in the solar sector in Q1 2021, added up to to $8.1 billion in 36 deals, a 21 per cent increase compared to $6.7 billion raised in 43 deals in Q4 2020. The increase in corporate funding was primarily due to higher debt and public market financing activity in the first quarter of 2021, according to a Mercom Capital report. “Financing activity in the solar sector started strong in 2021 with Q1 numbers up substantially year-over-year. Even though solar stocks lost some of their spark in the first quarter after an unprecedented run in 2020, a big IPO and record securitisation activity lifted overall fund-raising totals. Solar assets continue to be in great demand with almost 15 GW of projects acq ....
Sterling and Wilson Solar (SWSL) jumped 6.88% to Rs 306 after the company said Sterling and Wilson Private Limited (SWPL) and its subsidiary have repaid outstanding inter-corporate loans.Sterling and Wilson Pvt Ltd (SWPL), a Shapoorji Pallonji Group company, and its subsidiary have repaid Rs 402 crore of outstanding inter-corporate loans, reducing the balance payable to Rs 790 crore as on date. SWPL and its subsidiary had an outstanding loan of Rs 1,160 crore as on 13 February 2021. The dues were repaid by SWPL and its subsidiary Sterling and Wilson International FZE to SWSL and its subsidiary Sterling and Wilson International Solar FZCO. SWSL and FZCO s outstanding term debt stood at Rs 332 crore as on 13 February 2021. SWSL s balance term debt has fallen to Rs 94 crore, following repayment of Rs 278 crore till date. ....
Sterling and Wilson repays ₹402 cr inter-corporate loans April 08, 2021 Sterling and Wilson Pvt Ltd (SWPL), a Shapoorji Pallonji Group company, has repaid ₹402 crore of outstanding inter-corporate loans, slashing its balance payable to ₹790 crore as on date. SWPL and its subsidiary had an outstanding loan of ₹1,160 crore as on February 13, 2021. The dues were repaid by SWPL and its subsidiary Sterling and Wilson International FZE to Sterling and Wilson Solar Limited and its subsidiary Sterling and Wilson International Solar FZCO. After the repayment, SWSL s balance term debt fell to ₹94 crore, while FZCO is term debt-free following repayment of ₹278 crore till date. SWSL and FZCO s outstanding term debt stood at ₹332 crore as on February 13, 2021, it said in a regulatory filing. ....
Sterling and Wilson International Solar FZCO (SWFZCO), wholly owned subsidiary of Sterling & Wilson Solar (the Company) held 25,08,000 fully paid Equity Shares of AUD 1 each representing 76% of the share capital of GCO Solar (GCO), subsidiary of SWFZCO. Further, SWFZCO has informed the Company that it has acquired the balance 7,92,000 fully paid up Equity Shares of GCO thereby increasing its aggregate shareholding to 33,00,000 fully paid up Equity Shares representing 100% share capital of GCO consequent to which GCO is now the wholly owned subsidiary of SWFZCO. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) ....