Suzlon Energy Sees 4% Increase Following Acquisition of Order for 100 Wind Turbines

28 Dec 2023 , 12:22 PM

On December 28, after the business announced securing an order for the development of a 300-MW wind power project for Apraava Energy, shares of Suzlon Energy Limited traded 4% higher at Rs 38.5 intraday.

Suzlon stated in a filing on December 28 that as part of the order, it will install 100 wind turbine generators (WTGs) with a rated capacity of 3 MW each and a Hybrid Lattice Tubular (HLT) tower at the client’s location in Karnataka.

The counter was up 3.1% from the previous closing on the NSE at Rs 38.2 at 11:10 a.m. The stock has increased on the bourses by more than 256% since the year’s beginning.

It further stated that it will oversee the project’s commissioning. According to the exchange filing, ‘Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.’

Vice-chairman Girish Tanti of the company expressed that he was ‘extremely encouraged by the conducive policy environment, the strong government will, and enthusiastic industry response to renewables in the country.’

The KP Group awarded the business a repeat contract last week to create a 193.2 MW wind power project. This project is part of the tariff-based project of the State Transmission Utility (STU) to increase the share of renewable energy in Gujarat, as well as the wind-solar hybrid project.

As per the agreement, Suzlon will provide 92 of its S120 2.1 MW wind turbine generators (WTGs) together with a 140 m Hybrid Lattice Tubular (HLT) tower to the Gujarati districts of Vagra and Vilayat in the Bharuch district.

For feedback and suggestions, write to us at [e-mail]