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Suzlon Bounces Back with Major Order Win

14 June 20245 mins read by Angel One
The share price of Suzlon jumps 3% as it secures a 103.95 MW order from AMPIN Energy Transition. This project is part of AMPIN's commitment to expanding renewable energy in India.
Suzlon Bounces Back with Major Order Win
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Indian equity markets were seen trading in the green, with Sensex and Nifty up by 0.21% and 0.22%, respectively. One stock that is buzzing in early deals is Suzlon Energy.

Shares of Suzlon were seen trading near the day’s high up by 3%, with about 2.45 crore shares changing hands. So, what is the buzz around this stock?

Suzlon Group, India’s largest renewable energy solutions provider, announced a significant order win for the development of a 103.95 MW wind power project for AMPIN Energy Transition Private Limited. This project is part of AMPIN’s commitment to expanding renewable energy in India.

Project Details

Suzlon will supply 33 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, each with a rated capacity of 3.15 MW. These turbines will be installed at the client’s site in Fatehgarh district, Rajasthan, under various bids from SECI (Solar Energy Corporation of India) and C&I (Commercial & Industrial) customers. This project has the potential to provide electricity to approximately 85,000 households and curb around 338,000 tonnes of CO2 emissions per year.

Comprehensive Services

As part of the agreement, Suzlon will handle the equipment supply, project execution, erection, and commissioning of the wind turbines. Additionally, Suzlon will provide comprehensive operations and maintenance services post-commissioning, ensuring the long-term success and reliability of the project.

Leadership Remarks

JP Chalasani, CEO of Suzlon Group, expressed his enthusiasm about partnering with AMPIN Energy Transition. He highlighted the alignment of Suzlon’s technology and services with their customers’ needs and expectations. Vivek Srivastava, CEO of Suzlon India Business, emphasized the importance of hybrid renewable energy projects in India’s energy transition and reaffirmed Suzlon’s commitment to supporting India Inc.’s growth with sustainable energy solutions.

Strategic Partnership

Pinaki Bhattacharyya, Managing Director & CEO of AMPIN Energy Transition, spoke about the critical role of their collaboration with Suzlon. He emphasized that this partnership enhances AMPIN’s capacity to deliver on green energy commitments and advance India’s energy landscape towards a more sustainable future.

Technological Edge

Suzlon’s turbines feature the time-tested Doubly Fed Induction Generator (DFIG) technology, efficiently integrating wind turbines into the utility network to meet grid requirements. Continuous R&D efforts by Suzlon focus on increasing turbine performance, harnessing more energy from low-wind sites, and reducing the cost of energy.

About AMPIN Energy Transition

AMPIN Energy Transition is India’s leading renewable energy transition company with a portfolio of approximately 3 GWp spread across 21 states. With a balanced mix of C&I and utility customers, AMPIN provides comprehensive renewable energy solutions while reducing operating costs for their clients. Their collaboration with Suzlon marks a significant step towards achieving their sustainability goals.

About Suzlon Group

The Suzlon Group is a global leader in renewable energy solutions, with a wind energy capacity of approximately 20.7 GW installed across 17 countries. With a strong focus on ‘Make in India’ and ‘Aatmanirbhar Bharat,’ Suzlon manufactures all its turbines domestically, contributing to a greener world. With over 29 years of operational experience and a diverse workforce of over 6,200 employees, Suzlon remains committed to delivering sustainable energy solutions globally.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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