Sterling Wilson Renewable Energy has been issued a demand of INR 26.4 lakhs for CGST, affecting their input tax credit in FY20. The company is assessing this order and believes that financially, the impact on operations will not be significant.

The Central Goods and Services Tax (CGST) has issued a demand for around 26.4 lakh rupees in taxes and penalties, pertaining to the fiscal year April 2019-March 2020. However, the affected company maintains that this will not have any significant impact on its operations.

Adani Green Energy, with a market cap of INR 1.33 trillion, experiences a 3.1% dip to INR 806.8 on BSE due to a sector-wide downturn in the renewables industry. The company has enlisted L&T, Sterling & Wilson, and KPI Green as external contractors for expansion plans amidst the market decline.

Sterling & Wilson has provided a ₹293 crore guarantee to ABSA Bank, securing funding for solar projects in South Africa. This guarantee serves as a safety net for working capital expenses over six years, creating a potential future liability.