Suzlon Energy shares gain 4% on 100.8 MW order win from Everrenew Energy

Suzlon will supply the wind turbines (equipment supply) and supervise the execution and commissioning of the project.

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Suzlon Energy share price rose 4 per cent in early trade on July 17 on an order win of 100.8 MW from Everrenew Energy.

On July 14 Suzlon Group announced a new order win for the development of a 100.8 MW wind power project for Everrenew Energy Private Limited.

Suzlon Energy will install 48 wind turbine generators (WTGs) of their S120 – 2.1 MW with a Hybrid Lattice Tubular tower at Velliyanani Phase II in Karur district and Vengaimandalam in Trichy in Tamil Nadu and the project is expected to be commissioned in March 2024.

Suzlon will supply the wind turbines (equipment supply) and supervise the execution and commissioning of the project.

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“We are delighted to announce our first order with Everrenew Energy Private Limited. Suzlon takes pride in valued customers like Everrenew Energy, one of India’s fast‐growing renewable energy Project Management companies. They have put their trust in our leading technology and comprehensive capabilities throughout the wind energy value chain,” said JP Chalasani, Chief Executive Officer, Suzlon Group.

“The Power generated from this project will target the Commercial & Industrial (C&I) consumer segment, creating deeper penetration of renewable energy in India. Suzlon is committed to driving Indian industries toward their net‐zero targets and powering the domestic economy with green energy,” he added.

On July 11, the company won an order for the development of a 47.6 MW wind power project for The KP Group. The project is located at Vagra in Bharuch district in Gujarat and is expected to be commissioned in 2024.

Suzlon will supply their S133 wind turbines (equipment supply) and supervise execution and commissioning of the project. Suzlon will also provide comprehensive operations and maintenance services post‐commissioning.

At 09:22 hrs Suzlon Energy was quoting at Rs 18.22, up Rs 0.52, or 2.94 percent on the BSE.

The share touched a 52-week high of Rs 18.54 and a 52-week low of Rs 5.43 on 12 July, 2023 and 28 July, 2022, respectively.

Currently, the stock is trading 1.73 percent below its 52-week high and 235.54 percent above its 52-week low.

Over the last three months, the share price rose 123 percent.