Indian EPC company Sterling and Wilson has announced the launch of a new Hybrid and Energy Storage business.
The firm said the new business will focus on front-of-meter and behind-the-meter public and private sector opportunities, with special focus on bringing power to remote islands and reducing the carbon footprint of critical power installations running on black power.
The business aims to offer turnkey services such as project development, design and engineering including sizing of energy storage solutions and hybrid technologies, supply chain management, construction, commissioning, operation and maintenance.
Deepak Thakur will be the business’s CEO and Vishwanathan Iyer, formerly Sterling and Wilson’s head of solar business development in India, will be in charge of global business development, strategy and marketing.
The company said it is already in advanced discussions for the new business’s first projects in Africa and Europe and is “keenly exploring EPC and co-development opportunities across continents”.
The company said the move is “part of its commitment to consistently expand its range of offerings to reflect the future of energy”.
And Thakur noted that the global hybrid and energy storage market “is estimated to be around $40bn by 2025”.
“As one of the leading turnkey solution providers in the world, with project management, engineering and delivery expertise of over 8 GW of diversified energy offerings across geographies, we are confident of providing our customers value for money through customized hybrid power plants and energy storage facilities,” he added.