Suzlon wins 248.85 MW wind energy order from ArcelorMittal Group; shares rise
"This order is part of the 550 MW hybrid project in Gujarat, where the wind order has been awarded to Suzlon for captive use for ArcelorMittal Nippon Steel facilities in India. Suzlon continues to be the largest wind player in Gujarat with 4.5 GW of installed capacity base and growing," the company said in an exchange filing.
- Jan 28, 2026,
- Updated Jan 28, 2026 9:42 AM IST
Suzlon Group on Wednesday announced that it has secured a 248.85 MW wind energy order from the ArcelorMittal Group through its renewable energy entity in India.
"This order is part of the 550 MW hybrid project in Gujarat, where the wind order has been awarded to Suzlon for captive use for ArcelorMittal Nippon Steel facilities in India. Suzlon continues to be the largest wind player in Gujarat with 4.5 GW of installed capacity base and growing," the company said in an exchange filing.
"This marks Suzlon's fourth major wind order for decarbonising steel production, taking its contribution to approximately 1,156 MW of green steel capacity in India. Over the past 12 months, Suzlon has partnered with leading steelmakers to accelerate the transition to low-carbon steel manufacturing," it added.
Commenting on the development, Girish Tanti, Vice-Chairman at Suzlon Group, said, "We are proud to partner with ArcelorMittal, one of the world's most respected steel producers. Steel is the backbone of India's infrastructure, yet it remains one of the most energy-intensive industries."
Following the announcement, Suzlon Energy shares traded higher in today's session. At last check, the stock was up 3.05 per cent at Rs 47.25.
On the valuation front, Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said the brokerage remains optimistic. He noted that after a prolonged phase of consolidation and underperformance, Suzlon's share price appears attractive at current levels. He told Business Today that the recent decline has eased valuation concerns that had emerged after the sharp rally seen earlier.
Kranthi Bathini, Director – Equity Strategy at WealthMills Securities, maintained a constructive view for existing investors. He said investors who already hold the stock may continue to stay invested.
Bathini also pointed out that the alternative energy space is currently in a consolidation phase and added that Suzlon is more suitable for investors with a high-risk appetite due to the stock's volatility.
Suzlon Group on Wednesday announced that it has secured a 248.85 MW wind energy order from the ArcelorMittal Group through its renewable energy entity in India.
"This order is part of the 550 MW hybrid project in Gujarat, where the wind order has been awarded to Suzlon for captive use for ArcelorMittal Nippon Steel facilities in India. Suzlon continues to be the largest wind player in Gujarat with 4.5 GW of installed capacity base and growing," the company said in an exchange filing.
"This marks Suzlon's fourth major wind order for decarbonising steel production, taking its contribution to approximately 1,156 MW of green steel capacity in India. Over the past 12 months, Suzlon has partnered with leading steelmakers to accelerate the transition to low-carbon steel manufacturing," it added.
Commenting on the development, Girish Tanti, Vice-Chairman at Suzlon Group, said, "We are proud to partner with ArcelorMittal, one of the world's most respected steel producers. Steel is the backbone of India's infrastructure, yet it remains one of the most energy-intensive industries."
Following the announcement, Suzlon Energy shares traded higher in today's session. At last check, the stock was up 3.05 per cent at Rs 47.25.
On the valuation front, Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said the brokerage remains optimistic. He noted that after a prolonged phase of consolidation and underperformance, Suzlon's share price appears attractive at current levels. He told Business Today that the recent decline has eased valuation concerns that had emerged after the sharp rally seen earlier.
Kranthi Bathini, Director – Equity Strategy at WealthMills Securities, maintained a constructive view for existing investors. He said investors who already hold the stock may continue to stay invested.
Bathini also pointed out that the alternative energy space is currently in a consolidation phase and added that Suzlon is more suitable for investors with a high-risk appetite due to the stock's volatility.