Green energy stock jumps 4% after receiving 302 MW wind power project in Karnataka
One of the renewable energy stocks engaged in manufacturing wind turbine generators (WTGs) and components and also leading global renewable energy solutions providers. The stock has jumped 3.96 percent after partnering with Jindal Renewables to expand an additional 302.4 MW wind project to accelerate India’s green steel production.
Stock Price Movement:
Suzlon Energy has expanded its partnership with Jindal Renewables by securing an additional 302.4 MW wind power project in Karnataka, specifically in the Koppal region. The partnership brings the total cumulative order from Jindal Renewables to 702.4 MW, marking Suzlon’s largest-ever commercial and industrial (C&I) order from a single customer.
The project aims to support India’s green steel production, contributing to sustainable energy growth. This order follows a 400 MW wind project secured last month, highlighting the heightening collaboration between Suzlon and Jindal Renewables. Suzlon’s total order book now stands at a record 5.4 GW, with 56% of it coming from C&I customers.
Order Book of Suzlon:
Suzlon Energy plans to complete its full 5.1 GW order book within 18-24 months. The supply for NTPC orders is expected to start by Q2 FY25, with major deliveries scheduled to begin in Q4 FY25. This will ensure strong order fulfillment momentum, extending into FY26.
Future Developments:
Suzlon Energy has secured a 1.166 GW wind order from NTPC Green, bringing its order book to over 5 GW. The acquisition of Renom strengthens its position in multi-brand O&M, boosting fleet size and profitability.
Suzlon plans to increase its manufacturing capacity to 4.5 GW by FY25. The company aims to sustain healthy margins in both its WTG and OMS businesses.
