Suzlon Energy rises after bagging 1166 MW wind energy project from NTPC Green

Suzlon Energy advanced 1.14% to Rs 75.58 after the company announced that it has bagged India's largest wind energy order of 1166 MW from NTPC Green Energy (NGEL), the renewables arm of NTPC.

Suzlon will install a total of 370 wind turbine generators (WTGs) of S144 equipped with a hybrid lattice tubular (HLT) tower and a rated capacity of 3.15 MW each at two projects of NTPC Renewable Energy (a wholly owned subsidiary of NGEL) and one project of IndianOil NTPC Green Energy (a group company of NGEL) in the state of Gujarat.

This win takes Suzlons largest‐ever cumulative order book close to 5 GW as of 03 September 2024.

Girish Tanti, vice chairman, Suzlon Group, said: We are delighted to partner with NTPC Green Energy Limited, the renewables arm of India largest utility NTPC Limited, in our capacity as the nations premier Wind Energy OEM.

This project will emerge as the largest wind energy initiative by a PSU in Gujarat, cementing the states leadership in renewable energy.

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 consolidated net profit of Rs 302.29 crore in Q1 FY25, steeply higher than Rs 100.90 crore posted in Q1 FY24. Revenue from operations climbed 49.60% year on year (YoY) to Rs 2,015.98 crore in the quarter ended 30 June 2024.

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