Sterling and Wilson subsidiary faces $7.18m standby letter of credit call

Sterling and Wilson Solar Solutions Inc. ("SWSS"), a U.S.-incorporated step-down subsidiary of Sterling and Wilson Renewable Energy Ltd., announced that a standby letter of credit amounting to $7,187,989.98 was called upon by a customer and subsequently reimbursed. This action follows a previous disclosure in the company’s unaudited consolidated financial results for the quarter ended June 30, 2025.

The standby letter of credit was issued in favor of Montague Solar LLC, the claimant in this matter, with SWSS identified as the opposing party. SWSS plans to examine the situation and claim recovery from the customer under ongoing litigation.

The company's announcement, dated September 22, 2025, assures that further details as required by SEBI Listing Regulations and the Master Circular are enclosed for the record. The financial implications are related solely to this specific claim, with no other expected financial impacts mentioned for compensation or penalties at this time.