Suzlon Energy has caught the eye of investors, with its shares rising over 2% on Monday. The surge followed the company winning the country’s largest wind energy order of 1,166 MW. This major order was awarded by NTPC Green Energy Limited, a subsidiary of NTPC.
Wind Energy Milestone for Suzlon
While Suzlon has not yet revealed the financial details of the deal, the market price for a wind turbine currently stands at around Rs 6 crore per MW, according to a Businessline report. This latest order has pushed Suzlon’s total order book to nearly 5 GW as of September 3, 2024, the company shared in an exchange filing.
The company will be installing 370 wind turbine generators (WTGs) of the S144 model, each with a capacity of 3.15 MW. These turbines, mounted on crossover cross section tubular (HLT) towers, will be sent over three projects, two by NTPC Renewable Vitality Constrained and one by Indian Oil NTPC Green Vitality Pvt.
Strategic Acquisition Expands Suzlon’s Reach
In August, Suzlon announced its plan to acquire a 76% stake in Renom Energy Services, a subsidiary of the Sanjay Ghodawat Group, for Rs 660 crore. The acquisition will occur in two phases, with the first phase, involving a 51% stake worth Rs 400 crore, completed on September 6. Following this, Renom Energy is now a subsidiary of Suzlon. The second phase, covering the remaining 25% stake for Rs 260 crore, will be completed within the next 18 months.
Suzlon’s Global Leadership in Wind Energy
Founded in 1995, Suzlon Energy has emerged as a leader in the wind energy sector, extending its presence across 17 countries in regions including the Americas, Europe, Africa, and Asia.
“Sustainable development is at the core of Suzlon’s mission, guiding its efforts to protect the environment, empower communities, and drive responsible growth,” the company’s website states.
With inputs from agencies
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