Shares of Suzlon Energy Ltd skyrocketed 7% on 1 August as the stock began trading in the futures and options (F&O) market on Friday, 1 August.

Moreover, the government has increased the domestic content requirement for wind turbines. The government has ordered that blades, towers, gearboxes, generators, and bearings be purchased from the Approved List of Models and Manufacturers (ALMM).

R&D, data centres, and servers must also be located in India to improve cybersecurity. The development benefits not only Suzlon but also its competitor, Inox Wind.

Furthermore, the company has also announced on the exchanges that it has received a 381 megawatt (MW) order from Zelestra India and its affiliates for its first Firm and Dispatch Renewable Energy (FDRE) project.

Suzlon will supply 127 of its S144 turbines, split over Maharashtra (180 MW), Madhya Pradesh (180 MW), and Tamil Nadu (21 MW).  The project is part of SJVN’s FDRE bid for Maharashtra and Madhya Pradesh, with the Tamil Nadu portion serving commercial and industrial users.

At 12:54 am, the shares of Suzlon Energy were trading 7.06% higher at Rs 65.95 on NSE.

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