Suzlon shines: Shares rise 4% on securing deals with Jindal Renewables

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Shares of renewable energy solutions provider Suzlon Energy advanced 4.12 per cent to hit the day’s high of Rs 51.49 on the National Stock Exchange (NSE) during intra-day trade on Tuesday, March 4, 2025. The uptick in Suzlon’s share price followed the news that the company had secured a third order of 204.75 MW from Jindal Green Wind 1 Pvt. Ltd., a subsidiary of Jindal Renewables.

 

"This partnership is also now Suzlon’s largest Commercial & Industrial (C&I) order with a cumulative capacity of 907.20 MW. Earlier, Suzlon secured two orders to power Jindal Steel’s plants in Chhattisgarh and Odisha, adding 702.45 MW of wind energy. Currently, C&I customers account for 59 per cent of Suzlon’s total order book, which has now reached a record 5.9 GW — the highest in the company’s history," said Suzlon Energy in a release.

 

In this new order, Suzlon will supply 65 state-of-the-art S144 wind turbine generators (WTGs) with Hybrid Lattice Towers (HLT), each rated at a 3.15 MW capacity. The energy generated will be utilized for captive consumption in steel plants located in Chhattisgarh and Odisha, enhancing their operational sustainability and contributing to India's green energy transition.

 

"Building on our initial successes in Karnataka, we're now expanding the Low CO₂ Steel movement to Tamil Nadu, a trailblazer in wind energy. Together, we're redefining the future of sustainable industrial growth in India," said Girish Tanti, vice chairman, Suzlon Group.

 

Bharat Saxena, president, Jindal Renewables, said, “At Jindal Renewables, we are committed to leading the decarbonization movement in India’s steel industry. This third order with Suzlon is a clear demonstration of our commitment to sustainable practices and our vision to become the largest decarbonization solution provider.”

 

Headquartered in Pune, India, Suzlon Energy, a part of the Suzlon Group, is a global renewable energy solution provider. The Suzlon Group has approximately 20.9 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India, the Group includes Suzlon Energy and its subsidiaries. Suzlon has in-house R&D centers in Germany, the Netherlands, Denmark, and India, and world-class manufacturing facilities across India. Its portfolio includes the advanced 2.x MW and 3.x MW series of wind turbines.

 

As of March 4, 2025, Suzlon Energy enjoys a market capitalisation of Rs 92,835.32 crore on the NSE. Suzlon Energy shares have a 52-week range of Rs 86.04–35.50 on the NSE.

 

Though Suzlon Energy's share price has dropped nearly 32 per cent in the last six months, in the span of the last one year, it has advanced nearly 16 per cent.

 

At around 1:50 PM on Tuesday, Suzlon Energy shares were quoted trading at Rs 49.79 per share, up marginally 0.02 per cent from their previous close of Rs 49.78 on the NSE. Nearly 58 million shares of Suzlon Energy, worth around Rs 291.80 crore, have exchanged hands on the NSE and BSE so far.

 

In contrast, the BSE Sensex was trading at 72,907, down 178.38 points or 0.24 per cent, while the NSE Nifty50 was down 62.20 points or 0.27 per cent at 22,057.