"Suzlon Surges 5% as Everrenew Energy Awards 225 MW Order"

In a noteworthy turn of events, Suzlon Energy experienced a significant uptick as its shares hit the 5% upper circuit, reaching Rs. 40.63 on the BSE at 02:58 PM on Friday. This surge was prompted by the company's successful acquisition of a substantial order for 225 MW for its 3 MW series from Everrenew Energy Private Limited. Suzlon's stock had previously reached a 52-week high of Rs 44 on November 17, 2023.

Trading volumes on the counter witnessed a remarkable three-fold increase today, with a combined 86.57 million equity shares changing hands on the NSE and BSE. Notably, there are pending buy orders for a combined 23.56 million shares on these exchanges, as per available data.

An official exchange filing from Suzlon Group, India's leading renewable energy solutions provider, provided insights into the details of this significant achievement. The company successfully secured a new order for the development of a 225 MW wind power project for Everrenew Energy Private Limited.

This project entails the installation of 75 wind turbine generators (WTGs) featuring a Hybrid Lattice Tubular (HLT) tower, each with a rated capacity of 3 MW. The designated sites for these installations are Vengaimandalam in the Trichy district and Ottapidaram in the Tuticorin district of Tamil Nadu.

The specific order pertains to Suzlon's larger-rated 3 MW, S144-140m turbines from the 3 – 3.15 MW product series. Under the agreement, Suzlon will not only supply the wind turbines (equipment supply) but will also oversee the entire project, including commissioning. Moreover, Suzlon is committed to providing comprehensive operations and maintenance services post-commissioning.

Suzlon Group stands out globally as one of the foremost renewable energy solutions providers, boasting an impressive 20.3 GW of wind energy capacity installed across 17 countries. Within India, the company has cemented its position as the top wind energy service provider, managing the largest service portfolio of over 14.3 GW in wind energy assets. Additionally, Suzlon has achieved an installed capacity of approximately 6 GW outside India, reflecting its continuous global expansion. The addition of the 3 MW Series wind turbine technology platform further enhances Suzlon's comprehensive product portfolio, which includes the 2 MW and 3 MW series of wind turbines.

BS