Suzlon Energy sizzles after bagging order from Adani Green

Suzlon Energy spurted 4.16% to Rs 7.77 after the company said it secured an order for developing a 48.3 MW wind power project for Adani Green Energy.

Suzlon will install 23 units of their wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each. The project is located in Mandvi, Kutch Gujarat and is expected to be commissioned in 2023.

This is a repeat order from Adani Green Energy, and it is in addition to the existing order of 226.8 MW as announced on 13th August 2021.

Suzlon will execute the project with a scope of supply, installation, and commissioning. Additionally, Suzlon will offer post-commissioning operation and maintenance services.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with presence in 17 countries.

On a consolidated basis, Suzlon reported net profit of Rs 2,433.33 crore as against a net loss of Rs 22.44 crore in Q1 FY23 over Q1 FY22. Net sales rose 21.4% YoY to Rs 1,377.58 crore in Q1 FY23.

Meanwhile, shares of Adani Green Energy rose 2.09% to Rs 2203.25 on the BSE.

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