Page 4 - Suzlon Energy

Suzlon bags 30 MW wind project from EDF Renewables, to install 10 WTGs

Renewable energy solutions provider Suzlon on Thursday said it has bagged an order for a 30 MW wind power energy project from EDF Renewables. As part of the order, Suzlon will install 10 Wind Turbine Generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each in Gujarat, a company statement said. Suzlon will execute the project with a scope of supply, supervision, commissioning, post-commissioning and maintenance services, the statement said. JP Chalasani, Chief Executive Officer, Suzlon Group, said, "EDF Renewables is a highly reputed Global power company with an established track record in renewable energy. Therefore, receiving an order from them is a matter of pride for us." Arne Lorenzen, Chief Executive Officer, EDF Renewables India said, "We look forward to leveraging Suzlon's extensive experience in the Indian wind market to make this project successful. We want to operate and expand our clean energy portfolio in India in the years to ...

Suzlon Q3 results: Net profit jumps to Rs 203 cr, income at Rs 1,569 cr

Renewable energy solutions provider Suzlon Energy on Wednesday posted a nearly 160 per cent jump in its consolidated net profit to Rs 203.04 crore in the December quarter, on the back of higher revenues. Its consolidated net profit was Rs 78.28 crore in the quarter ended on December 31, 2022, according to a regulatory filing. Total income rose to Rs 1,569.71 crore in the third quarter from Rs 1,464.15 crore a year ago. "In Q3 of FY24, we concluded 2023 on a strong note. The quarter showcased impactful policies propelling India's renewable energy vision ahead," Girish Tanti, Vice Chairman at Suzlon Group, said in a statement. "Our service business continues to do well. We are concentrating our efforts towards creating a better customer experience, a stronger organisation and management structure in our service business in line with expected growth of the sector," JP Chalasani, Chief Executive Officer of Suzlon Group, said. "In Q3 FY24, we have seen consistent improvement in perform

Suzlon Energy appoints Sairam Prasad as CEO of wholly-owned subsidiary SGSL

Suzlon Energy Ltd on Tuesday announced the appointment of Sairam Prasad as the CEO of its wholly-owned subsidiary Suzlon Global Services Limited (SGSL). His appointment is with effect from January 16, the company said in a regulatory filing. "Sairam Prasad has been appointed as the Chief Executive Officer of SGSL, a wholly-owned subsidiary of the company...and has been designated as one of the SMPs (senior managerial personnel) of the company," it said. The company further said Ishwar Chand Mangal, the existing Chief Executive Officer of SGSL and one of the SMPs of the company, will now act as CEO New Business reporting to the group chief executive officer. He has also been appointed as the non-executive director of SGSL with effect from February 1, 2024. Pune-based Suzlon Group is one of the leading renewable energy solutions providers in the world, with more than 20 GW of wind energy capacity installed across 17 countries.

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

Suzlon Group secures 225 MW wind energy project from Everrenew Energy

Renewable energy solutions provider Suzlon Group has secured a new 225 MW wind energy order from Everrenew Energy. Suzlon will install 75 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each at Everrenew Energy's sites at Vengaimandalam, Trichy district and Ottapidaram, Tuticorin district in Tamil Nadu, a company statement said. This order is for the company's larger rated 3 MW, S144-140m turbines from the 33.15 MW product series, it added. "This project with Everrenew Energy serves the promising commercial and industrial (C&I) segment of the Indian market, which will be important in driving our national targets over time," Girish Tanti, Vice Chairman, Suzlon Group said in the statement. 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 Power .

Suzlon bags two wind energy orders from Mahindra Susten, nordic energy firm

Renewables solutions provider Suzlon has bagged two separate wind energy orders of 100.8 MW each from Mahindra Susten and an Indian arm of a leading nordic energy company. Suzlon will install 48 units of their S120 140m wind turbine generators (WTGs) with a Hybrid Lattice tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra for Mahindra Susten Pvt Ltd, the clean-teach arm of the Mahindra Group, a company statement said. "We are delighted to partner with Mahindra Susten, for their first wind energy project. Indian conglomerates like the Mahindra Group are setting examples for corporate India towards embracing renewable energy and meeting India's national sustainability goals," said Girish Tanti, Vice Chairman, Suzlon Group said. According to a statement, Suzlon will execute the project with a full scope of supply, installation, and commissioning. Additionally, Suzlon will also undertake post-commissioning operation and maintenance services. Electricity generated f

Investment firm BlackRock stake in Suzlon Energy surpasses 5% level

Investment firm BlackRock Inc's equity holding has surpassed the five per cent level in renewable energy solution provider Suzlon Energy with the acquisition of about 24.73 lakh shares. "The aggregate holdings of BlackRock, Inc. (on behalf of discretionary management clients) in Suzlon Energy Limited has moved above 5 per cent," a regulatory filing has said. The filing showed that BlackRock has acquired 24,73,442 shares (0.02 per cent of total share capital) in Suzlon Energy, in addition to 68,02,13,598 shares (4.99 per cent of the total share capital) already held in the company. After the acquisition of 24,73,442 shares on November 30, 2023, BlackRock's aggregate holding has increased to 5.01 per cent in Suzlon Energy. Now, BlackRock holds 68,26,87,040 shares (5.01 per cent of the total shareholding) in the Suzlon Energy.

GMR airports to Emami: Companies with highest pledged holdings by promoters

1.22% of promoter holdings was pledged at the end of the September quarter compared with 1.36% in the June quarter

IndusInd Bank, Suzlon Energy among nine firms added to MSCI India Index

As many as nine firms, including IndusInd Bank, Suzlon Energy and One 97 Communications, were added to the MSCI India Index, according to an update announced by index compiler MSCI. There are nine additions to the MSCI India index, and the changes in constituents will take place on the close of November 30, 2023, it said. APL Apollo Tubes, IndusInd Bank, Macrotech Developers, One 97 Communications (Paytm's parent firm), Persistent Systems, Polycab India, Suzlon Energy, Tata Communications and Tata Motors will be added to the MSCI India index, as per the announcement. Shares of Suzlon Energy jumped 4.79 per cent, One 97 Communications rallied 2.90 per cent, Tata Motors climbed 2.84 per cent, Persistent Systems (0.61 per cent) and Macrotech Developers (0.37 per cent) on the BSE. However, the stock of IndusInd Bank fell 1.05 per cent, Tata Communications lost 1.26 per cent, APL Apollo Tubes dipped 0.90 per cent, and Polycab India skidded 0.04 per cent. MSCI Global Standard Index is .

Suzlon Energy hits 9-year high; up 5% on strong Q2 results, order book

CRISIL expects profitability of Suzlon to grow further and achieve Ebitda above Rs 750 crore in FY24, driven by increasing fleet base of O&M business and positive tailwinds in Indian wind sector

Suzlon Energy Q2 result: Profit up 81% to Rs 102 crore on fall in expenses

Suzlon Energy on Thursday posted over 81 per cent rise in consolidated net profit to Rs 102.29 crore for September quarter 2023-24 mainly due to decline in expenses. Net profit in the year-ago period was Rs 56.47 crore, according to a BSE filing by the company. Total income declined to Rs 1,428.69 crore in the second quarter from Rs 1,442.58 crore in the same period a year ago. Total expenses also dipped to Rs 1,291.26 crore from Rs 1,427.84 crore. "At the end of Q2 FY24, our orderbook stands at a healthy 1,613 MW...Our service business continues to do well, while our forging and foundry business SE Forge consolidated on its foundation for future growth," J P Chalasani, Chief Executive Officer, Suzlon Group, said. Himanshu Mody, Chief Financial Officer, Suzlon Group, said the company was anchored strongly with a net cash of Rs 599 crore by September 2023 which is a significant shift from net debt of Rs 1,180 crore in March 2023. On the back of a successful QIP conclusion in Augu

Suzlon secures order for 3 MW series turbines from Juniper Green Energy

Under the terms of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project including, the erection and commissioning

JSW Infra gains 32% on market debut; Finolex Cables withholds results

Through the IPO, JSW Infrastructure raised Rs 2,800 crore in fresh capital, which it plans to use for paring its debt

CRISIL upgrades Suzlon Energy ratings to BBB+ with positive outlook

Renewable solutions provider Suzlon Energy on Wednesday said Crisil upgraded its ratings by two notches to BBB+/A2 with a positive outlook. "Suzlon Group today announced that Crisil has upgraded the ratings of Suzlon Energy Ltd to CRISIL BBB+/A2 from CRISIL BBB-/A3' with a Positive Outlook for long-term and short-term facilities, reflecting the company's strengthened financial position, operational excellence and favourable sectoral tailwinds," a company statement said. According to the statement, the rating upgrade is a result of Suzlon's successful reduction of debt by repaying the entire term debt through the proceeds of a qualified institutional placement (QIP) of approximately Rs 2,000 crore. The reduction in fund-based borrowings, steady cash flows from the operations and maintenance (O&M) services business, and improved business profile in the wind turbine segment have contributed to this upgrade. Suzlon Group Chief Financial Officer Himanshu Mody said, "This upgrade is a .

Stocks to Watch today, Sep 27: Infy, HealthCare Global, Suzlon, Century Tex

Stocks to watch on Wednesday, September 27, 2023: Shares of SignatureGlobal (India) and Sai Silk (Kalamandir) to debut on the bourses today.

Suzlon bags 31.5-MW wind energy project from Integrum Energy Infrastructure

Renewable energy solution provider Suzlon Group on Thursday announced that it has bagged an order from Integrum Energy Infrastructure for the development of a 31.5-MW wind energy project. The company did not disclose the value of the order. Suzlon will execute the project with a scope of supply, installation, and commissioning, the company said in a statement. Additionally, it said that Suzlon will offer post-commissioning operation and maintenance services. "Suzlon Group today announced a new order win for the development of a 31.5 MW wind power project for Integrum Energy Infrastructure Private Ltd", the statement said. Suzlon will install 15 units of S120140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 2.1 MW each in Maharashtra and Karnataka. The project is expected to be commissioned in May 2024. J P Chalasani, Chief Executive Officer, Suzlon Group, said in the statement, "We are delighted to announce our second order wit

Suzlon Energy tumbles 10% in 2 days post Q1FY24 results

Shares of Suzlon Energy were locked in the 55 lower circuit band for a second straight day on Wednesday after the company's net profit for Q1FY24, including exceptional loss, tumbled to Rs 101 crroe

Suzlon Energy records 96% decline in net profit to Rs 101 crore in Q1

Suzlon Energy registered a 96 per cent decline in consolidated net profit at Rs 101 crore in the April-June quarter. The company had registered a consolidated net profit of Rs 2,433 crore in the year-ago quarter, an investors' presentation showed. The company's net revenue in the first quarter of this fiscal also came down to Rs 1,348 crore from Rs 1,378 crore in the year-ago period. Girish Tanti, vice-chairman, Suzlon Group, said in a statement, "With the country poised to lead decarbonisation of its economy, we are seeing renewed enthusiasm from India Inc. to drive this green energy transition." J P Chalasani, chief executive officer, Suzlon Group, said in the statement, "At Suzlon, we continue to show stable and steady growth in line with our business plan. With the fruition of our initiatives to strengthen the balance sheet and reduce debt, our focus is now on ramping up our operations to service our cumulative orders, which stand at a healthy 1,582 MW as on date." Himanshu Mo

Suzlon secure 100.8 MW wind energy project deal from Everrenew Energy

Renewable energy solutions provider Suzlon Group on Friday said it has secured an order of 100.8 MW wind power project from Everrenew Energy. However, the company did not disclose the value of the order. Suzlon will supply wind turbines and supervise the execution and commissioning of the project in Tamil Nadu. "Suzlon Group today announced a new order win for the development of a 100.8 MW wind power project for Everrenew Energy Pvt Ltd," a company statement said. It will install 48 wind turbine generators (WTGs) and the project is expected to be commissioned in March 2024. A project of this size can provide electricity to 65,000 households and curb 2.58 lakh tonne of CO2 emissions per year. "Power generated from this project will target the Commercial & Industrial (C&I) consumer segment, creating deeper penetration of renewable energy in India," J P Chalasani, Chief Executive Officer, Suzlon Group said. Everrenew Energy is a renewable energy company which provides a ...

Suzlon, BSE: 5 Nifty 500 stocks gained over 15% in July, expect more upside

Technically, when any stocks crosses crucial hurdles and witnesses accumulation at key supports, the trend is expected to witness robust upside ahead.