Sterling and Wilson, an Indian multinational engaged in engineering, construction, manufacturing and energy services, has moved 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’s Hybrid & Energy Storage Business arm promises 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.
The newly introduced Hybrid & 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.
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 US$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.
Commenting on the new business foray, Mr. Deepak Thakur said that the global hybrid and energy storage market is estimated to be “around US$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,” concluded Mr Thakur.
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 centralised large fossil and renewable power plants, to data centres, C&I segments and remote settings such as Islands.