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Suzlon Energy Shares Rally 4% on Bagging 103 MW Order from AMPIN Energy

The company will supply the WTGs and execute the projects, including erection and commissioning.

Shares of Suzlon Energy Ltd rallied 4% on 11 June after the company announced securing 103.9 megawatts (MW) from Ampin Energy Transition for installing 33 wind turbine generators (WTG) with hybrid lattice tubular tower in Transition Fatehgarh, Rajasthan.

As a part of the agreement, the company will supply the WTGs and execute the projects, including erection and commissioning, and will also undertake comprehensive operations and maintenance services post-commissioning. 

Vivek Srivastava, Chief Executive Officer, India Business, Suzlon Group said, “Suzlon and AMPIN Energy Transition are committed to the expansion of renewable energy in India. Going forward, we will see the industry add on increasing volumes of hybrid renewable energy projects, which will be the cornerstone of effective energy transition.”

Earlier, Marc Desaedeleer, an independent director of the company, submitted his resignation, highlighting that the company’s corporate governance and transparency have not met his expectations. He added that he was satisfied with the company’s financial and operational turnaround. 

Earlier on 29 May, the company secured an order for developing a 551.25 megawatt (MW) wind power project from Aditya Birla Group. The company will install 175 WTGs with a Hybrid Lattice Tubular tower with a rated capacity of 3.15 MW each. 

At 3:20 pm, the shares of Suzlon were trading 1.81% higher at Rs 48.26 on NSE.

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