Suzlon Energy gains on bagging 103.95 MW order from AMPIN Energy Transition

Suzlon Energy added 1.71% to Rs 48.16 after the company said that it has secured a 103.95 MW order from AMPIN Energy Transition to supply 33 wind turbines with a rated capacity of 3.15 MW each.

Suzlon will install 33 wind turbine generators (WTGs) with a hybrid lattice tubular (HLT) tower and a rated capacity of 3.15 MW each at the clients site in the Fatehgarh district in Rajasthan, said the firm.

This order is for the company's larger rated 3.15 MW, S144-140m turbines from the 3 MW product series. As part of the agreement, the company will supply the wind turbines (equipment supply) and execute the project including erection and commissioning. The firm will also undertake comprehensive operations and maintenance services post-commissioning, it added.

Vivek Srivastava, chief executive officer (CFO), India Business, Suzlon Group, said, Suzlon and AMPIN Energy Transition are committed to the expansion of renewable energy in India. Going forward, we will see the industry add on increasing volumes of hybrid renewable energy projects, which will be the cornerstone of effective energy transition. We are delighted that this order is part of a larger hybrid project from SECI bids and C&I requirements. We stand committed to powering India Inc.s growth with sustainable energy solutions.

Pinaki Bhattacharyya, managing director & CEO, AMPIN Energy Transition, said, We are at the forefront of India's renewable energy revolution, steadfastly expanding the reach and impact of sustainable power. Our collaboration with Suzlon, a global leader in renewable energy solutions, is pivotal as it enhances our capacity to deliver on our green energy commitments. Together, we're not just meeting but also exceeding our customers' expectations for sustainability and reliability. This partnership is a significant step towards our goal of advancing India's energy landscape towards a more sustainable and renewable future.

Suzlon Energy is engaged in the business of design, development, manufacturing and supply of wind turbine generators (WTGs). Suzlon Energy (SEL) is India's largest renewable energy solutions provider with presence in 17 countries across six continents.

The company reported 9.21% decline in consolidated net profit to Rs 254.12 crore in Q4 FY24 compared to Rs 279.89 crore posted in Q4 FY23. Revenue from operations climbed 28.95% year on year (YoY) to Rs 2,179.20 crore in the quarter ended 31 March 2024.

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