Sterling and Wilson liquidates Kazakhstan subsidiary

Sterling and Wilson Renewable Energy Limited has disclosed the liquidation of Sterling and Wilson Kazakhstan LLP, effective March 2, 2026. The company received the formal liquidation order on March 6, 2026.

Sterling and Wilson Kazakhstan LLP operated as a step-down subsidiary of the listed company. The entity was held through Sterling and Wilson Singapore Pte. Ltd., which is a wholly owned subsidiary of Sterling and Wilson Renewable Energy.

According to the company’s consolidated financial statements for FY2024-25, the Kazakhstan entity reported a net loss of Rs 1.28 crore and accounted for -0.13% of the group’s consolidated net assets. Another Kazakhstan entity, Sterling and Wilson International LLP (Kazakhstan), also remained inactive and recorded negligible losses with minimal impact on group financials.

The company stated that no consideration was involved in the liquidation. No buyer participated in the process, and no related party transactions were associated with the closure.

The Kazakhstan venture originated in 2018, when the company announced plans to enter the Central Asian solar market. At the time, Sterling and Wilson registered a subsidiary in Kazakhstan, obtained a Category I engineering, procurement, and construction (EPC) licence, and aimed to secure around 200 MW of EPC contracts by 2020. The country was then conducting early government tenders for solar capacity.

The entity did not contribute to the group’s turnover, revenue, or net worth in any financial year, according to company disclosures and its FY2024-25 Annual Report.