Suzlon Energy trades down 3% despite winning 30-MW wind power project

Suzlon Energy Share Price: The share touched a 52-week high of Rs 50.72 and a 52-week low of Rs 6.96 on 02 February, 2024 and 28 March, 2023, respectively.

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The share price of Suzlon Energy declined 3 percent intraday on February 29 despite the company winning a 30-MW wind power project for EDF Renewables.

“Suzlon will install 10 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each. The project is located in Gujarat,” the company said.

This is a repeat order for the company’s largest turbine series, S144‐140m with a rating of 3 MW.

Suzlon will execute the project with a scope of supply, supervision, erection and commissioning. Additionally, Suzlon will also undertake post‐commissioning operations and maintenance services.

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“This order is a testament to the quality and reliability of our technology and service solutions. The power generated from this project will serve the people of Gujarat with clean, green, renewable power. Suzlon is committed to serving our customers’ green portfolios and the nation with our proven technology, extensive experience, and service excellence,” said JP Chalasani, chief executive officer of Suzlon Group.

The share touched a 52-week high of Rs 50.72 and a 52-week low of Rs 6.96 on February 2, 2024 and March 28, 2023, respectively. Currently, the stock is trading 17.23 percent below its 52-week high and 503.16 percent above its 52-week low.