Suzlon Energy rises 4% on bagging order for supply of 100 wind turbines

Shares of Suzlon Energy Limited traded 4 percent higher at Rs 38.5 intraday on December 28 after the company announced winning an order for the development of a 300-MW wind power project for Apraava Energy.

As part of the order, Suzlon will install 100 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each at the client’s site in Karnataka, the company said in a filing on December 28.

At 11:10am, the counter was trading at Rs 38.2, up 3.1 percent from the previous close on the NSE. Since the start of the year, the stock has gained over 256 percent on the bourses.

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It also added that it will supervise the project, including its commissioning. “Suzlon will also undertake comprehensive operations and maintenance services post‐commissioning”, the exchange filing stated.

“Extremely encouraged by the conducive policy environment, the strong government will and enthusiastic industry response to renewables in the country,” Girish Tanti, vice-chairman of the company said.

Last week, the company bagged a repeat order for the development of a 193.2 MW wind power project from The KP Group. This project will be a part of the  wind-solar hybrid and STU’s (State Transmission Utility) tariff-based project for increasing the renewable energy contribution in Gujarat.

Under the order, Suzlon will supply 92 units of their S120 – 2.1 MW wind turbine generators (WTGs) with a 140 m Hybrid Lattice Tubular (HLT) tower at Vagra and Vilayat in Bharuch district of Gujarat.

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