Sterling and Wilson Renewable Energy has entered into a full and final settlement agreement with the Kenya Revenue Authority (KRA) concerning tax assessments for calendar years 2020-2023. The original demand of approximately INR 26.50 Crore (including interest and penalties) has been reduced to just INR 2.66 Crore (principal only). This settlement also absolves the company from future interest and penalties, provided the principal amount is paid by December 25, 2026.
Major Tax Settlement Reached
Sterling and Wilson Renewable Energy Limited has announced a significant development regarding its tax matters in Kenya. The company, through its disclosure dated October 21, 2026, confirmed the execution of a full and final settlement agreement with the Kenya Revenue Authority (KRA).
Reduced Financial Liability
This agreement pertains to tax assessments for the period spanning calendar years 2020 to 2023. Previously, the KRA had issued a demand order dated December 12, 2025, amounting to approximately INR 26.50 Crore, which included interest and penalties. Under the terms of the new settlement, this demand has been substantially reduced to approximately INR 2.66 Crore, representing only the principal amount. This represents a reduction of over 90% from the initial demand.
Future Obligations Waived
Furthermore, the settlement agreement provides a clear path forward by absolving Sterling and Wilson Renewable Energy from the obligation to pay any future interest and penalties. This waiver is contingent upon the company fulfilling the payment of the principal demand by December 25, 2026. The agreement also covers other compliances as stipulated by applicable laws, bringing closure to this significant tax dispute.
Company’s Compliance Assurance
The company has formally declared that the information and details provided in Form A, in compliance with SEBI Listing Regulations, are true, correct, and complete to the best of its knowledge and belief. The company will be making payments as per the agreed terms within the settlement agreement.
Source: BSE
