Suzlon Energy shares jump 4%, taking winning run to 5th day. Here's why

Shares of Suzlon Energy Ltd climbed to a fresh 52-week high in Thursday's trade, as the scrip took its winning run to the fifth straight trading session. The fresh bout of buying on the counter came in following the company's filing to BSE were it  suggested the renewable energy solutions provider received RLMM (Revised List of Models & Manufacturers) for its S144, a 3 MW series of wind turbines from the Ministry of New and Renewable Energy (MNRE).

As per the company, the S144  turbine  is  designed  to  make  it  customisable  for the site‐specific requirements for higher PLFs (Plant Load Factor).  The Suzlon Energy stock rose 3.72 per cent to hit a high of Rs 42 on BSE. Suzlon Energy shares are up 12.54 per cent in the five-day winning run.

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This is a key milestone that is required for successful commercialisation of the product, Suzlon Energy said upon receiving the RLMM. It said the renewable energy solutions provider has already installed the first prototype of the series at a hub height of 160m with a Hybrid Lattice Tubular (HLT) tower at the Gondal site in Gujarat.

Suzlon said the product is in the process of serial manufacturing and commercialisation.  Chief Executive Officer at Suzlon Group, JP Chalasani, said: “This listing comes at the right time after our S144 product received enthusiastic response from the market, evident from the strong order inflow. Transformation toward more energy‐efficient products is driving the Indian wind energy market. It is imperative  for  us  to  offer  technologically  advanced  products  that  are  best  suited  for  sites in India,  ensuring  a  higher  return  on  investment  (ROI)  for  our  customers."

Chalasani  suggested the S144 3 MW series has 90 per cent domestic content. “We believe that this product will go a  long way in driving India’s renewable energy targets towards a more sustainable country.  Our comprehensive product portfolio, led by dual star products; the proven and successful S120 – 2.1 MW and the new S144 – 3‐3.15 MW product series of larger wind turbines offer solutions for all Indian wind regimes and sites with an aim to increase generation and reduce LCoE (levelised cost of energy),” he said.

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