Suzlon Energy jumps on launch of new offshore turbines

Suzlon Energy surged 6.12% to Rs 9.71 at 12:36 IST on BSE after the company said it will unveil its new offshore turbine, the REpower 6.2M152.

The announcement was made during trading hours today, 18 November 2013.

Meanwhile, the S&P BSE Sensex was up 321.41 points or 1.58% at 20,720.83.

On BSE, 17.71 lakh shares were traded in the counter as against average daily volume of 22.16 lakh shares in the past one quarter.

The stock hit a high of Rs 9.93 and a low of Rs 9.48 so far during the day. The stock had hit a 52-week high of Rs 26.90 on 6 February 2013. The stock had hit a record low of Rs 5.72 on 28 August 2013.

The stock had outperformed the market over the past one month till 14 November 2013, surging 24.66% compared with the Sensex's 1.01% fall. The scrip had also outperformed the market in past one quarter, jumping 31.84% as against Sensex's 5.33% rise.

The small-cap company has equity capital of Rs 432.43 crore. Face value per share is Rs 2.

Suzlon Energy said that the new turbine features a rotor diameter of 152 metres, with the rotors sweeping an area larger than three football pitches. The nacelle alone is as big as two detached houses and will be constructed offshore at a height of between 95 and 110 metres.

Andreas Nauen, CEO, REpower Systems SE said, "We are the only manufacturer to have already installed more than 100 offshore turbines in the multi-megawatt class. With an eye on the outstanding availability and energy yield of the REpower 6.2M126, we have enhanced this robust, proven concept: the bigger rotor and correspondingly larger drive train of REpower 6.2M152 combined with tried-and-tested, first class technology enables our customers to generate energy even more cost-efficiency on the high seas".

Suzlon Energy reported a consolidated net loss of Rs 782.37 crore in Q2 September 2013, lower than net loss of Rs 807.74 crore in Q2 September 2012. Net sales declined 16.4% to Rs 4769.35 crore in Q2 September 2013 over Q2 September 2012.

The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity and marketshare, at the end of 2012. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with over 22,500 MW of wind energy capacity installed, operations across over 30 countries.

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