Sterling and Wilson Renewable Energy Issues USD 31 Million Parent Company Guarantee for South African Solar Projects

Sterling and Wilson Renewable Energy Ltd. has issued a Parent Company Guarantee (PCG) to ABSA Bank Limited for an amount of USD 31 million (equivalent to approx. INR 293.04 Crore) to secure a Guarantees facility (Non-fund based working capital facility) availed by Sterling and Wilson Engineering (Pty) Ltd., a step-down subsidiary of the Company, for solar power projects in South Africa. The PCG is valid for 6 years from the date of issuance and constitutes a contingent liability for the Company.