Suzlon Energy surged 7.23% to Rs 9.79 at 11:07 IST on BSE after the firm's subsidiary REpower Systems SE announced the conclusion of an EPC contract with Mitsui & Co (Australia) to deliver 52 wind turbines with a total rated output of 106.6 megawatts
The announcement was made during trading today, 28 November 2013.
Meanwhile, the S&P BSE Sensex was up 167.31 points or 0.82% at 20,587.57.
On BSE, 17.08 lakh shares were traded in the counter as against average daily volume of 18.70 lakh shares in the past two weeks.
The stock hit a high of Rs 9.99 and a low of Rs 9.10 so far during the day. The stock had hit a 52-week high of Rs 26.90 on 6 February 2013. The stock had hit a record low of Rs 5.72 on 28 August 2013.
REpower Systems SE announced the conclusion of an engineering, procurement and construction (EPC) contract with Mitsui & Co (Australia) to deliver 52 wind turbines with a total rated output of 106.6 megawatts (MW) for the Bald Hills windfarm in Victoria, Australia.
The contract is combined with a service contract for the next 10 years, with a further five year option. It is the first contract for REpower with Mitsui & Co, and marks the largest EPC contract,commonly referred to as a full-turnkey contract for REpower in Australia to date.
Speaking on the order, Andreas Nauen, CEO, REpower Systems SE said, "This contract is a milestone for our business in Australia. After a considerable effort of planning, we now look forward to delivering the Bald Hills Wind Farm in collaboration with Mitsui. We appreciate the trust they have in REpower and our technology and look forward to a long-term collaboration".
The turbines are to be delivered in Q2 2014 and to be commissioned in Q2 2015. They are expected to produce up to 380,000 MWh of electricity per year, enough to power over 62,000 homes.
The REpower MM92 turbines, each with a rated power of 2.05MW, a hub height of 80 metres and a rotor diameter of 92.5 metres, are destined for the Bald Hills windfarm near Tarwin Lower, two hours from Melbourne in South Gippsland, Victoria.
REpower Systems SE, a wholly owned subsidiary within the Suzlon group, is one of the world's leading manufacturers of onshore and offshore wind turbines. The international mechanical engineering company develops, produces and markets wind turbines for almost any location - with rated outputs of 1.8 MW to 6.15 MW and rotor diameters of 82 metres to 152 metres.
Suzlon Energy reported a consolidated net loss of Rs 782.37 crore in Q2 September 2013, lower than net loss of Rs 807.74 crore in Q2 September 2012. Net sales declined 16.4% to Rs 4769.35 crore in Q2 September 2013 over Q2 September 2012.
The Suzlon Group is ranked as the world's fifth largest wind turbine supplier, in terms of cumulative installed capacity and marketshare, at the end of 2012. The company's global spread extends across Asia, Australia, Europe, Africa and North and South America with approximately 22,500 MW of wind energy capacity installed, operations across 32 countries.
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