Suzlon Energy shares climb 4% on bagging 100.8 MW wind power project in Gujarat – EQ
In Short : Suzlon Energy shares have surged by 4% following the company’s successful acquisition of a 100.8 MW wind power project in Gujarat. This positive market response reflects investor confidence in Suzlon’s continued growth and contribution to the renewable energy sector, particularly in the field of wind power generation in the region.
In Detail : Suzlon Energy share price: The stock rose 3.64 per cent to hit high of Rs 38.69 on BSE. With this, the stock is up 256.34 per cent year-to-date. Suzlon said it would also undertake post-commissioning operation and maintenance services.
Suzlon Energy Ltd saw its shares climbing nearly 4 per cent in Friday’s trade after the largest domestic renewable energy solutions provider, said it has won new orders for the development of a 100.8 MW wind power project for a leading global utility company. Suzlon Energy said it would install 32 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each. The project is located in Gujarat. Suzlon Energy said it would execute the project with a scope of supply, supervision, and commissioning.
Following the development, the stock rose 3.64 per cent to hit high of Rs 38.69 on BSE. With this, the Suzlon stock is up 256.34 per cent year-to-date. Suzlon Energy said it would also undertake post-commissioning operation and maintenance services.
Vice Chairman Girish Tanti said: “This order is in line with Suzlon’s reputation for world class wind energy solutions enabling industry leading companies from across the globe to trust us with their wind energy projects. The power generated from this project will serve the people of Gujarat with clean, green, renewable power.”
Tanti said as India’s ambitions to be carbon neutral take momentum, his company is committed to partnering with all stakeholders every step of the way.
“The Suzlon 3 MW series is the next stage evolution of our proven technology, customized for the Indian wind regime and 3.15 MW is one of the largest wind turbines in the country today,” Tanti said.
Chief Executive Officer JP Chalasani said: “We are delighted to announce our first order with the leading global utility backed by an established global track record in renewable energy. This order is a testament to the quality and reliability of our technology and service solutions. Suzlon is committed to serve our customers and the nation with our proven technology, extensive experience, and service excellence in India.”
Chalasani said Suzlon’s turbines are manufactured through a domestic ecosystem, and said its R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.
