Sterling and Wilson Renewable Energy Ltd has secured a significant reduction in a tax demand from Kenya Revenue Authorities, bringing the liability down to ₹265 million from a higher original amount. The resolution enhances the company's cash flow and financial flexibility amid international project expansions.
Sterling and Wilson Renewable Energy Ltd, a leading EPC player in the solar and renewable energy sector, has achieved a favorable outcome in its tax dispute with Kenya Revenue Authorities. The authorities have substantially reduced the outstanding demand to ₹265 million, providing relief to the company's balance sheet.
Key highlights:
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The revised demand reflects successful negotiations and clarifications on project-related tax assessments in Kenya.
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This settlement follows the company's proactive engagement with authorities, minimizing potential liabilities from international operations.
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The reduced amount improves working capital availability, supporting ongoing renewable energy projects across Africa and beyond.
The development underscores Sterling & Wilson's robust compliance framework and ability to navigate complex cross-border tax environments. With a strong order book in solar EPC, the company remains focused on execution and margin improvement. Investors view this as a positive step toward sustained profitability.
Source: Company filing to BSE and NSE, Kenya Revenue Authorities notice