Suzlon Energy hits upper circuit after renewable energy firm wins order from leading Indian firm

Suzlon Energy Share Price: Suzlon Energy touched the upper circuit on BSE on Wednesday (May 29, 2024) after the renewable energy firm won a power project order from Aditya  Birla  Group.

The stock that closed at Rs 43.96 a day ago soared by 4.98 per cent to touch the upper circuit of Rs 46.15 on Wednesday.  

Suzlon Energy shares closed trading higher by 4.98 per cent, or Rs 2.19, at Rs 46.15  on Wednesday.

What is Suzlon Energy's order?

The company announced on Wednesday that it had won an order for the development of 551.25 MW wind power project for the Aditya Birla Group. As per the order, Suzlon Energy will install 175 wind  turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at sites in the Barmer district in Rajasthan and Bhuj district in Gujarat.

The order is for the company's larger rated 3.15 MW, S144‐140m turbines from the 3 MW product series. 

"As part of  the agreement, Suzlon will supply  the wind  turbines  (equipment supply) and execute  the project, including erection and commissioning, in Rajasthan, while they will supply, supervise, and commission the project  in Gujarat.  Suzlon  will  also  undertake  comprehensive  operations  and maintenance  services  post‐commissioning at both the sites," Suzlon Energy said in the statement.