Suzlon Energy experienced a surge of over 4.4 percent on January 5, reaching ₹40.60 per share on the NSE. This boost was attributed to the company securing a new contract for a 225-MW wind power project from Everrenew Energy Private Ltd.
The project involves installing 75 wind turbine generators (WTGs) featuring a Hybrid Lattice Tubular (HLT) tower, each with a rated capacity of 3 MW. Suzlon Energy specified that the order is for the larger-rated 3 MW S144-140m turbines from the 3–3.15 MW product series. The WTGs and HLT tower will be erected at various locations, including Vengaimandalam in the Trichy district and Ottapidaram in the Tuticorin district of Tamil Nadu.
Over the past six months, Suzlon Energy’s stock has witnessed a remarkable surge of 130 percent. In the last year, it has soared by an impressive 298 percent, effectively tripling investors’ returns in the past 12 months.
According to a statement from the company, Suzlon will supply the wind turbines (equipment supply) and supervise the project, including commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.
Girish Tanti, the Vice Chairman of Suzlon Group, emphasized India’s highly favorable policy environment and a flourishing ecosystem that includes research and development, manufacturing, as well as operations and maintenance services. Tanti noted that, combined with one of the lowest costs of energy in the world, these factors make Indian renewables stand out in the global market.
Suzlon CFO Himanshu Mody stated earlier that the group has been focused on strengthening the balance sheet and has successfully made it debt-free. He further expressed optimism about favorable conditions in terms of order-book availability and the capacity to efficiently execute orders in the foreseeable future.
