Suzlon Energy shares gain 4% on winning 99 MW order from Vibrant Energy

In the last 9 months the share price gained 25 percent.

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Suzlon Energy share price rose 4 percent intraday on May 17 as company secured a new order of 99 MW from Vibrant Energy.

Suzlon Group has received an order from Vibrant Energy for 33 wind turbine generators (WTGs), featuring its new 3 MW series with a Hybrid Lattice Tubular (HLT) tower for a 99 MW wind power project which is expected to be commissioned by FY25, Suzlon Energy said in its regulatory filing.

This order of the larger wind turbine model is from the new 3 MW series ? the S144?140m is part of the agreement wherein Suzlon Energy will supply the wind turbines (equipment supply), provide erection and commissioning services, as well as comprehensive operations and maintenance services post?commissioning.

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“We are delighted to announce our first order with Vibrant Energy which is a highly respected corporate renewable energy solutions provider. This is a significant order for us featuring turbines from our 3 MW series. It is a matter of pride when customers place their trust in Suzlon’s technology and service excellence to partner in their renewable energy journey,” said J P Chalasani, Chief Executive Officer, Suzlon Group.

“This order targets the C&I (Commercial & Industrial) consumer segment which we believe will be a significant contributor to India’s renewable energy vision going ahead. I look forward to a long partnership with Vibrant Energy in the coming years towards building a sustainable India,” he added.

At 09:54 hrs Suzlon Energy was quoting at Rs 8.47, up Rs 0.25, or 3.04 percent on the BSE.

The share touched a 52-week high of Rs 12.19 and a 52-week low of Rs 5.43 on 20 December, 2022 and 28 July, 2022, respectively. Currently, it is trading 30.52 percent below its 52-week high and 55.99 percent above its 52-week low.

In the last 9 months the share price gained 25 percent.