Shares of Suzlon Energy, India’s largest renewable energy company, surged by 5% to ₹46.25 each in today’s trading after the company announced a major project win.
Suzlon revealed it has secured orders for 402 MW from Juniper Green Energy for their 3 MW series. The project will see Suzlon installing 134 wind turbine generators (WTGs) with Hybrid Lattice Tubular (HLT) towers, each with a capacity of 3 MW, at their proposed site in Fatehgarh, Rajasthan.
These are repeat orders from Juniper Green Energy, which previously bought Suzlon’s larger 3 MW, S144‐140m turbines. Suzlon will supply the wind turbines and handle operations and maintenance after the installation.
Girish Tanti, Vice Chairman of Suzlon Group, expressed his delight, stating, “Juniper Green Energy has been a long-term partner, and we are happy to work with them again. This order helps us grow our presence in Rajasthan and supports the state’s green energy goals.”
Tanti added, “Suzlon’s products are designed for India’s wind conditions, aimed at reducing energy costs and increasing access to renewable energy. We are committed to India’s renewable energy targets, aligning with the ‘Make in India’ initiative and Aatmanirbhar Bharat vision.”
This is the second order from Juniper Green Energy in three months, following a 72.45 MW project in March. Suzlon also secured a 30 MW project from EDF Renewables in the same month, further boosting its position in the wind energy sector.
Suzlon’s shares have been performing strongly, driven by successful project wins and efforts to become debt-free. This confidence among investors has led to a 444% increase in share value over the past year. In February, Suzlon’s stock crossed the ₹50 mark for the first time in nearly 13 years.
India aims to install 500 GW of non-fossil fuel capacity by 2030, achieve net-zero emissions by 2070, and meet 50% of its electricity needs from renewable sources by 2030. As part of this, the Ministry of New and Renewable Energy (MNRE) has set a goal to install 100 GW of wind energy capacity by 2030, creating a favorable environment for renewable energy companies.
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