Suzlon Energy shares jump 4% on order win. Key details
Suzlon Energy said the order is for 33 wind turbine generators (WTGs) for a 99 mw wind power project. The project is expected to be commissioned by FY25, the company informed stock exchanges.
- May 17, 2023,
- Updated May 17, 2023 10:26 AM IST
Shares of Suzlon Energy jumped 4 per cent in Wednesday's trade after the renewable energy solutions provider said it bagged an order from Vibrant Energy for 33 wind turbine generators (WTGs) for a 99 mw wind power project. The project is expected to be commissioned by FY25, the company informed stock exchanges.
The company said a project of this size can provide electricity to 307 thousand households and curb 2.92 lakh tonnes of CO2 emissions every year.
Following the development, Suzlon Energy shares rose 4.27 per cent to Rs 8.57 on BSE. Despite this, the stock is down 22 per cent year-to-date.
"This order of the larger wind turbine model from the new 3 MW series ‐ the S144‐140m is part of the agreement wherein Suzlon Energy will supply the wind turbines (equipment supply), provide erection and commissioning services as well as comprehensive operations and maintenance services post‐commissioning," the company said.
Chief Executive Officer J P Chalasani said the order targets the C&I (Commercial & Industrial) consumer segment. “We are delighted to announce our first order with Vibrant Energy which is a highly respected corporate renewable energy solutions provider. This is a significant order for us featuring turbines from our 3 MW series," he said.
Vibrant Energy's CEO Srinivasan Viswanatha said it is a long‐term partner for corporate consumers actively assisting them to meet their sustainability and decarbonisation targets.
"This is the first time that we are partnering with Suzlon, who is India’s leading wind turbine manufacturer, and we look forward to partnering on many more such opportunities," it said.
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Shares of Suzlon Energy jumped 4 per cent in Wednesday's trade after the renewable energy solutions provider said it bagged an order from Vibrant Energy for 33 wind turbine generators (WTGs) for a 99 mw wind power project. The project is expected to be commissioned by FY25, the company informed stock exchanges.
The company said a project of this size can provide electricity to 307 thousand households and curb 2.92 lakh tonnes of CO2 emissions every year.
Following the development, Suzlon Energy shares rose 4.27 per cent to Rs 8.57 on BSE. Despite this, the stock is down 22 per cent year-to-date.
"This order of the larger wind turbine model from the new 3 MW series ‐ the S144‐140m is part of the agreement wherein Suzlon Energy will supply the wind turbines (equipment supply), provide erection and commissioning services as well as comprehensive operations and maintenance services post‐commissioning," the company said.
Chief Executive Officer J P Chalasani said the order targets the C&I (Commercial & Industrial) consumer segment. “We are delighted to announce our first order with Vibrant Energy which is a highly respected corporate renewable energy solutions provider. This is a significant order for us featuring turbines from our 3 MW series," he said.
Vibrant Energy's CEO Srinivasan Viswanatha said it is a long‐term partner for corporate consumers actively assisting them to meet their sustainability and decarbonisation targets.
"This is the first time that we are partnering with Suzlon, who is India’s leading wind turbine manufacturer, and we look forward to partnering on many more such opportunities," it said.
Also read: AEL, Adani Power, Adani Total Gas: Adani group shares mixed ahead of SC hearing on Sebi plea
Also read: Bank of Baroda shares at Rs 240? Analysts see up to 29% upside post Q4 results. Here's why