Suzlon Energy rallies on launch of low-wind 1.5MW turbine

Suzlon Energy has rallied 7% to Rs 30.25 after the world's fifth largest wind turbine maker, late Monday announced the launch of its latest 1.5 MW range turbine S8X for the Indian market, the next generation low-wind turbine focused on harnessing Class III, low-wind sites.

“The new turbine is specifically designed to deliver high efficiency and cost effective power generation even at low wind speeds, therefore increasing the size of the market and making wind power projects even more financially competitive than they are today," the company said in a filing to the stock exchanges.

Meanwhile, the media report suggests that the company sold five wind farms in Brazil for 540 million reais ($300 million). However, the TV channel report suggests that the wind farm sale has no financial implication on the company.

A combined 39.14 million shares have changed hands on the counter so far on both the exchanges.