India, Sept. 22 -- Sterling and Wilson Renewable Energy, a name that's spent years building out one of the largest solar EPC and O&M books in the world, has quietly added two more orders to its pile, one from a new domestic customer, one from a returning overseas client working in battery storage. Combined, they're worth close to a thousand crore. The dollar figure isn't the interesting part, though. What's worth watching is what the mix of these two wins says about where the company's growth is actually coming from next.

Shares of Sterling and Wilson Ltd are trading at Rs. 180.18, up 3.99 percent on Tuesday. The stock touched the intraday high of Rs. 186.66 after opening at Rs. 178.89 before slipping to a low of Rs. 178.70. The company...