Suzlon Energy shares climb 4%, top Rs 18 level on order win. Key details
Suzlon Energy shares jumped 3.97 per cent to hit a high of Rs 18.06 on BSE. Suzlon said it will supply S133 wind turbines and supervise execution and commissioning of the project.
- Jul 11, 2023,
- Updated Jul 11, 2023 6:50 PM IST
Shares of Suzlon Energy climbed 4 per cent in Tuesday's trade after the company secured a 47.6 MW wind power project from The KP Group in Gujarat. The largest renewable energy solutions provider said the project is located at Vagra in Bharuch district in Gujarat and is expected to be commissioned in 2024.
Following the development, shares of Suzlon Energy jumped 3.97 per cent to hit a high of Rs 18.06 on BSE. Suzlon said it will supply S133 wind turbines (equipment supply) and supervise execution and commissioning of the project. Suzlon will also provide comprehensive operations and maintenance services post‐commissioning, the company said in a BSE filing.
Chief Executive Office JP Chalasani said, “We are delighted to announce a repeat order from The KP Group." Chalasani said the power generated from the project will serve the Commercial & Industrial (C&I) consumer segment, which is a key segment to drive deeper penetration of renewables in India.
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"Suzlon is committed to partner with increasing number of Indian industries, driving them toward their net‐zero targets while powering the nation with sustainable energy,” he said adding that every Suzlon turbine has over 80‐90 per cent domestic content.
KP Group's Chairman and Managing Director Farukbhai Gulambhai Patel said, “We have had a long and fruitful association with Suzlon in the past using their cost‐effective Made‐in‐India solutions to create an ‘Aatmanirbhar Bharat’."
Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon 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.
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Shares of Suzlon Energy climbed 4 per cent in Tuesday's trade after the company secured a 47.6 MW wind power project from The KP Group in Gujarat. The largest renewable energy solutions provider said the project is located at Vagra in Bharuch district in Gujarat and is expected to be commissioned in 2024.
Following the development, shares of Suzlon Energy jumped 3.97 per cent to hit a high of Rs 18.06 on BSE. Suzlon said it will supply S133 wind turbines (equipment supply) and supervise execution and commissioning of the project. Suzlon will also provide comprehensive operations and maintenance services post‐commissioning, the company said in a BSE filing.
Chief Executive Office JP Chalasani said, “We are delighted to announce a repeat order from The KP Group." Chalasani said the power generated from the project will serve the Commercial & Industrial (C&I) consumer segment, which is a key segment to drive deeper penetration of renewables in India.
Watch: Buzzing stocks on July 11, 2023: Bharat Dynamics, Mazagon Dock, Reliance, Cochin Shipyard, others
"Suzlon is committed to partner with increasing number of Indian industries, driving them toward their net‐zero targets while powering the nation with sustainable energy,” he said adding that every Suzlon turbine has over 80‐90 per cent domestic content.
KP Group's Chairman and Managing Director Farukbhai Gulambhai Patel said, “We have had a long and fruitful association with Suzlon in the past using their cost‐effective Made‐in‐India solutions to create an ‘Aatmanirbhar Bharat’."
Suzlon turbines feature the time tested Doubly Fed Induction Generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon 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.
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