Legal10 Oct 2025, 06:31 pm
Sterling and Wilson Solar Solutions, Inc., USA to Pay $2.25 Million to OEG Inc., USA in Settlement
AI Summary
Sterling and Wilson Solar Solutions, Inc., USA (SWSS) and OEG Inc., USA have entered into a settlement agreement on October 09, 2025, to settle certain claims and proceedings arising out of the arbitration initiated by OEG. SWSS has agreed to pay OEG an amount of $2.25 million in two installments. The first installment of $0.75 million is to be paid on or before October 16, 2025, and the final installment of $1.50 million is to be paid on or before November 08, 2025. This settlement amount is equivalent to approximately INR 19.95 Crore.
Key Highlights
- Sterling and Wilson Solar Solutions, Inc., USA and OEG Inc., USA have entered into a settlement agreement.
- The settlement amount is $2.25 million, to be paid in two installments.
- The first installment of $0.75 million is to be paid on or before October 16, 2025.
- The final installment of $1.50 million is to be paid on or before November 08, 2025.
- The settlement amount is equivalent to approximately INR 19.95 Crore.