Shares of Suzlon Energy Ltd rose by more than 2% on Thursday, 17 April, after the company announced that Sunsure Energy had awarded them a wind energy order for 100.8 megawatts (MW).

The project will be carried out in Maharashtra’s Jath area.

The company will supply 48 S120 wind turbine generators with hybrid lattice towers (HLT) with a combined capacity of 2.1 MW. According to the company, it will also supervise equipment installation, complete the project, including erection and commissioning, and provide operations and maintenance services following commissioning.

JP Chalasani, Suzlon Group’s CEO, said, “Adopting wind energy by large corporations is imperative for achieving India’s 500 GW non-fossil fuel target by 2030. Increasingly, independent power producers (IPPs) are recognising wind’s potential to make power more accessible, affordable and high quality. This transition not only supports our energy goals but also drives sustainable economic growth and innovation across the industry.”

Manish Mehta, co-founder and COO of Sunsure Energy, stated that the project broadens the company’s renewables portfolio and represents a significant milestone in the company’s goal of reaching 10 GW capacity by 2030.

Suzlon Energy has 56.12 lakh retail shareholders with approved share capital up to Rs 2 lakh at the end of the March quarter, compared to 54.09 lakh in December last year, according to the company’s latest ownership pattern disclosed on BSE.

Retail investors currently own 25.12% of Suzlon Energy, up from 24.49% at the end of the December quarter. Foreign Portfolio Investors’ stake in Suzlon Energy remains at roughly 23%.

Nonetheless, a few domestic mutual funds in India decreased their stake in the business during the March quarter. In December, the stake was 4.44%; now, it is 4.17%.

At 1:52 pm, the shares of Suzlon Energy were trading 1.99% higher at Rs 55.42 on NSE.

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