Suzlon gains on order win of 180.6 MW from Sembcorp

Suzlon Energy jumped 5.30% to Rs 11.13 after receiving an order for the development of a 180.6 megawatt (MW) wind power project for Sembcorp's renewables subsidiary Green Infra Wind Energy.

The company will install 86 wind turbine generators (WTGs) with a hybrid lattice tubular (HLT) tower and a rated capacity of 2.1 MW each. The project is located in Kanakagiribad, Bagalkot, Karnataka, and is expected to be commissioned in 2024.

Suzlon said that it will supply the wind turbines (equipment supply) and execute the project including, erection and commissioning. It will also provide comprehensive operation, and maintenance services post commissioning.

Ashwani Kumar, CEO of Suzlon Group said, This is a third repeat order from Sembcorp. With the global consensus that renewable energy is the most viable weapon to combat 'Climate Emergency', there is a concerted worldwide effort to ramp up wind and solar installations. We are seeing the momentum picking up in India as well, with increased interest from all our stakeholders and customer segments to invest in renewable energy.

Suzlon turbines feature the time tested doubly fed induction generator (DFIG) technology that efficiently integrates wind turbines into the utility network to meet the grid requirements. Suzlon's R&D efforts are continuously geared towards increasing turbine performance, harnessing more energy from low wind sites, and lowering the cost of energy.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with presence in 17 countries.

The company reported consolidated net profit of Rs 2,433.33 crore as against a net loss of Rs 22.44 crore in Q1 FY23 over Q1 FY22. Net sales rose 21.4% YoY to Rs 1,377.58 crore in Q1 FY23.

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