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Suzlon Energy shares up on 350 MW order from Canada

Suzlon's REpower Systems SE has signed a contract with EDF EN Canada

Reghu Balakrishnan  |  Mumbai 

Shares of Suzlon Energy, world's fifth-largest wind supplier, has gone up about 21% on Thursday, after its unit Systems received order for setting up a 350 MW wind farm at Quebec in Canada.

On BSE, shares touched an intraday high of Rs 25.65. The shares were closed at Rs 24.5, up by 15%.

"Suzlon Group company Systems SE has signed a contract with EDF EN Canada, a unit of EDF Energies Nouvelles, for the delivery of 175 turbines of 2 MW each for a project in Quebec, Canada. With a total rated output of 350 MW the Riviere-du-Moulin wind farm will be the biggest project in the history of REpower," the company statement said.

However, the financial details of the order were not disclosed in the statement.

The contract is part of the framework agreement of up to 954 MW signed between EDF EN and in 2009.

Early this week, the market regulator Securities and Exchange Board of India (Sebi) had disposed of case against Suzlon Energy, its chairman Tulsi Tanti and other executives after the company has settles charges related to alleged violation of insider trading norms.

First Published: Thu, January 31 2013. 20:13 IST