Suzlon Energy shares climb 4%, top Rs 18 level on order win. Key details

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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