Suzlon gains 5% on securing 225 MW order from Everrenew Energy

Till 02:58 PM, a combined 86.57 million equity shares had changed hands, and there were pending buy orders for a combined 23.56 million shares on the NSE and BSE

Shares of Suzlon Energy were locked in 5-per cent upper circuit at Rs 40.63 on the BSE on Friday at 02:58 PM after the company secured a new 225 MW order for its 3 MW series from Everrenew Energy Private Limited. The stock had hit a 52-week high of Rs 44 on November 17, 2023.

The average trading volumes on the counter jumped three-fold today with a combined 86.57 million equity shares changing hands on the NSE and BSE. There are pending buy orders for a combined 23.56 million shares on these exchanges, data shows.

In an exchange filing, Suzlon Group, India's largest renewable energy solutions provider, announced that it has bagged a new order for the development of a 225 MW wind power project for Everrenew Energy Private Limited.

"Suzlon will install 75 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each at the client’s sites at Vengaimandalam, Trichy district and Ottapidaram, Tuticorin district in Tamil Nadu," it said.

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

The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.3 GW of wind energy capacity installed across 17 countries.

Suzlon is also India's number 1 wind energy service company with the largest service portfolio of over 14.3 GW in wind energy assets. The Group has ~6 GW of installed capacity outside India. The 3 MW Series wind turbine technology platform is the latest addition to its comprehensive product portfolio. Suzlon offers a comprehensive product portfolio led by the 2 MW and 3 MW series of wind turbines.