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Suzlon Energy Secures 225 MW Wind Power Project Order, Stock Surges Over 2%

Suzlon Energy witnessed a surge of over 2 percent in its stock on January 5 following the announcement of a new order. The company secured a contract for a 225-MW wind power project from Everrenew Energy Private Ltd. Under this agreement, Suzlon will install 75 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, each having a rated capacity of 3 MW. The project will span across multiple sites in Vengaimandalam, Trichy district, and Ottapidaram, Tuticorin district in Tamil Nadu.

The ordered turbines are part of Suzlon's larger-rated 3 MW S144-140m turbines from the 3–3.15 MW product series. Suzlon Energy's stock was trading 1.4 percent higher at Rs 39.25 on the National Stock Exchange (NSE) at 1:01 pm. Over the past six months, the stock has witnessed a significant rise of 125 percent, and in the last year, it has surged by 283 percent, delivering substantial returns to investors.

As outlined in the agreement, Suzlon will not only supply the wind turbines but will also oversee the entire project, including commissioning. Post-commissioning, the company will undertake comprehensive operations and maintenance services. Girish Tanti, Vice Chairman at Suzlon Group, emphasized the conducive policy environment and thriving ecosystem in India for renewable energy. He highlighted that the low cost of energy in the country makes Indian renewables stand out globally.

The current order book of Suzlon stands close to 2 GWs, including orders from Suzlon Energy Ltd. and its subsidiaries. The company is now concentrating on executing the existing orders, and discussions are underway to secure additional orders in the fiscal year 2025. Suzlon CFO Himanshu Mody recently highlighted the company's focus on strengthening its balance sheet and achieving a debt-free status in FY24. With favorable market conditions and order-book availability, Suzlon anticipates positive developments ahead.


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