Sterling and Wilson Renewable Energy : General updates

September 23, 2022

BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	Exchange Plaza
Dalal Street	Bandra Kurla Complex
Mumbai - 400 001	Bandra (East), Mumbai - 400 051
Scrip Code: 542760	Symbol: SWSOLAR

Sub: Sterling and Wilson Solar Solutions Inc. ("SWSS"), a wholly owned step down subsidiary of the Sterling and Wilson Renewable Energy Limited ("the Company") enters into a Memorandum of Understanding ("MoU"), along with its consortium partner with Government of the Federal Republic of Nigeria

Dear Sir/ Madam

We are pleased to inform that Sterling and Wilson Solar Solutions Inc., incorporated in the United States of America ("SWSS"), a wholly owned step down subsidiary of the Sterling and Wilson Renewable Energy Limited ("the Company") along with its consortium partner Sun Africa LLC (collectively referred to as "the Consortium"), have signed a Memorandum of Understanding ("MoU") with the Government of the Federal Republic of Nigeria to deliver the development, design, construction and commissioning of solar photovoltaic power plants with total installed capacity of 961 MWdc at five different locations ("Projects") in the Federal Republic of Nigeria along with battery energy storage systems with total installed capacity of 455 MWh.

These Projects will ultimately be owned and operated by Niger Delta Power Holding Company ("NDPHC"), a Nigerian Government owned entity. Financing for these Projects are under negotiations between US EXIM, ING and the Government of Nigeria.

The Company wishes to emphasize that the above said MoU has been entered as a first step towards signing of definitive Development and EPC Agreements, which is subject to, inter alia, financing arrangement and approval by the Board of Directors of NDPHC.

Request you to take the same on records.

Yours faithfully

For Sterling and Wilson Renewable Energy Limited

VENKATA JAGANNADHA RAO CHUNDURU

Digitally signed by VENKATA JAGANNADHA RAO CHUNDURU

Date: 2022.09.23 08:05:00 +05'30'

Jagannadha Rao Ch. V.

Company Secretary

Sterling and Wilson Renewable Energy Limited

(Formerly known as Sterling and Wilson Solar Limited)

Regd. Office: Universal Majestic, 9th Floor, P. L. Lokhande Marg, Chembur (W), Mumbai - 400043

Phone: [phone] | Fax: [phone] | CIN: L74999MH2017PLC292281

Email: [e-mail] | Website: www.sterlingandwilsonre.com