Suzlon Energy, a leading provider of renewable energy solutions, witnessed a notable surge in its shares on Wednesday following the announcement of a major order win. The company revealed that it has secured a significant order of 300 MW from Torrent Power, propelling its stock to new heights.
In an exchange filing, Suzlon Energy stated that it has been awarded a substantial contract to develop a 300 MW wind power project for Torrent Power, utilizing its latest 3 MW series of wind turbines. The project will involve the installation of 100 wind turbine generators (WTGs), each with a rated capacity of 3 MW. These WTGs will be equipped with Hybrid Lattice Tubular (HLT) towers, ensuring optimal performance and efficiency.
The wind power project is set to be established in Karnataka, a region known for its favorable wind energy potential. The project is scheduled to be commissioned in 2025, contributing to India’s growing renewable energy capacity. This significant order win reflects Suzlon Energy’s prowess in the wind energy sector and further strengthens its market position.
Expressing his enthusiasm, Girish Tanti, Vice Chairman of Suzlon Group, highlighted the long-standing partnership between Suzlon and Torrent Power, stating, “Suzlon and Torrent have a long association of building several Wind Energy projects over the years…It is also wonderful to see that leading Indian corporate houses have taken on the mantle of driving India’s renewable energy journey towards achieving our nation’s net-zero targets.” This collaboration not only reinforces Suzlon’s expertise in wind power solutions but also underscores the commitment of Indian companies to drive sustainable energy initiatives.
The positive news surrounding Suzlon Energy had an immediate impact on its stock performance. On the Bombay Stock Exchange (BSE), Suzlon’s shares surged by 4.8% to reach 9.91 rupees per share. During the trading session, the stock hit an intraday high of 10.20 rupees, coming close to its 52-week high of 12.19 rupees. The market responded favorably to the company’s successful order acquisition, recognizing its potential for growth and profitability.
Meanwhile, Torrent Power, the recipient of Suzlon’s wind energy project, also experienced a positive boost in its stock value. The company’s shares rose by 3.1% to reach 551.30 rupees in a fluctuating trading session in Mumbai. This upward trend reflects the market’s recognition of Torrent Power’s involvement in expanding its renewable energy portfolio and its contribution to India’s sustainable development goals.
Suzlon Energy’s successful bid for the 300 MW wind energy project and the subsequent surge in its stock price highlight the company’s capability to secure large-scale contracts in the renewable energy sector. With its advanced wind turbine technology and a strong track record of successful project implementations, Suzlon Energy continues to play a pivotal role in India’s transition to cleaner and more sustainable energy sources.
According to an official exchange filing, Suzlon Energy has been awarded a notable contract to develop a 300 MW wind power project for Torrent Power. This project will be facilitated by the utilization of Suzlon’s latest 3 MW series of wind turbines. The company will install 100 wind turbine generators (WTGs), each with a capacity of 3 MW, equipped with Hybrid Lattice Tubular (HLT) towers.
Expressing his satisfaction with the partnership, Girish Tanti, Vice Chairman of Suzlon Group, emphasized the long-standing collaboration between Suzlon and Torrent Power. He stated, “Suzlon and Torrent have a long association of building several Wind Energy projects over the years… It is also wonderful to see that leading Indian corporate houses have taken on the mantle of driving India’s renewable energy journey towards achieving our nation’s net-zero targets.” This statement highlights the commitment of both companies towards promoting sustainable energy initiatives in India.
As the country strives to achieve its renewable energy targets and reduce its carbon footprint, collaborations between leading companies like Suzlon and Torrent Power play a crucial role in driving India’s renewable energy journey. The successful execution of the 300 MW wind power project will not only contribute to the nation’s clean energy goals but also create a greener and more sustainable future for generations to come.
