Suzlon Energy shares jump 4% on bagging new order

India's wind turbine manufacturer, Suzlon Energy shares rose 3.7% to ₹44.53 after the company secured an order to supply wind turbine generators (WTGs) for a 642 MW wind power project from an Evren company, ABC Cleantech Pvt Ltd. (ACPL). Evren is a joint venture in India between Brookfield and Axis Energy.

Suzlon plans to deploy 214 WTGs equipped with Hybrid Lattice Tubular (HLT) towers, each with a rated capacity of 3 MW in the state of Andhra Pradesh, the company says in a filing exchange.

"This order is for the company's larger rated 3 MW, S144‐140m turbines from the 3 MW product series,” the company adds.

Under the terms of the agreement, Suzlon will provide the wind turbines (equipment supply) and handle the installation and commissioning processes for the project. Additionally, Suzlon will be responsible for comprehensive operations and maintenance services after the commissioning phase, the filing states.

Girish Tanti, Vice-Chairman at Suzlon Group said, "It is a delight to start the year with a significant order announcement from Evren. Suzlon is committed to partnering with Evren to enhance their green energy portfolios while helping advance India's renewable energy goals."

JP Chalasani, Chief Executive Officer, Suzlon Group, said, “We are happy to announce our first order  with  Evren.  Suzlon’s  comprehensive  and  proven  product  portfolio,  customised  for  the Indian wind  regime will be instrumental in ramping up India’s renewable energy capacities in line with our national  targets. Andhra Pradesh is a key state for  us to unlock India’s true wind energy potential and we are delighted that the electricity generated  from this project in Andhra Pradesh will be used to power the millions of homes in the country with  clean, green, renewable power.”

In the final week of December, Suzlon had secured two fresh orders. One order was from an Indian subsidiary of a Nordic energy company, and the other came from Mahindra Susten Private Limited, the clean‐teach arm of the Mahindra Group.

The contract acquisition from the local subsidiary of the Nordic company involves the establishment of a 100.8-megawatt (MW) wind power project. Suzlon will deploy 32 wind turbine generators (WTGs) featuring a Hybrid Lattice Tubular (HLT) tower, each with a rated capacity of 3.15 MW, as per a stock exchange filing. Located in Karnataka, this project represents a repeat order from a customer, specifically for the company's largest turbine with a 3.15 MW rating. Under the agreement, Suzlon will handle the supply of wind turbines (equipment supply) and oversee the project, encompassing commissioning responsibilities. Furthermore, it was stated that Suzlon would be responsible for post-commissioning operations and maintenance services.

In addition, Suzlon disclosed another successful contract win for the development of a 100.8 MW wind power project with Mahindra Susten. For this project in Maharashtra, Suzlon will install 48 wind turbine generators (WTGs) featuring a Hybrid Lattice Tubular (HLT) tower, each with a rated capacity of 2.1 MW. The company is entrusted with the complete scope of supply, installation, and commissioning for this project, along with post-commissioning operation and maintenance services.